ICBC contributions to $52 million syndicated loan to Central Térmica Loma de la Lata S.A., 645 MW thermal generation plant in Argentina
Commitment amount
$ 14392238.00831035
Adjusted commitment amount
$ 14392238.01
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Argentina
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
In 2014, Banco Hipotecario, BACS Banco de Crédito y Securitización, Industrial and Commercial Bank of China (ICBC) and Citibank signed a $52 million syndicated loan agreement with Central Térmica Loma de la Lata S.A. — a special purpose vehicle that is partly owned by Pampa Energía S.A responsible for the Loma de la Lata Thermal Power Plant ('CTLL'). The plant is located in the Province of Neuquén (close to one of Argentina’s largest gas fields bearing the same name as the plant) and has an installed capacity of 645 MW. The proceeds of the loan were to be used by the borrower to refinance part of its outstanding debt.
Additional details
The exact size of ICBC’s contribution is unknown. For the time being, AidData assumes that all 4 members of the lending syndicate contributed equally ($13 million) to the $52 million loan.
Number of official sources
2
Number of total sources
5
Details
Cofinanced
Yes
Cofinancing agencies [Type]
BACS Banco de Crédito y Securitización SA [Private Sector]
Banco Hipotecario SA [Private Sector]
Citibank N.A. [Private Sector]
Direct receiving agencies [Type]
Central Térmica Loma de la Lata S.A. [Joint Venture/Special Purpose Vehicle]