ICBC contributes to $141 million syndicated loan to Ledesma for working capital, investment, and refinancing activities
Commitment amount
$ 26373475.885105383
Adjusted commitment amount
$ 26373475.89
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Argentina
Sector
Other multisector (Code: 430)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In 2015, a group of six banks — including BVA Banco Francés S.A., Banco de Galicia y Buenos Aires S.A., Banco Santander Río S.A., Industrial and Commercial Bank of China (Argentina) S.A., Banco Hipotecario S.A. and Banco Macro S.A. — signed a $141 million syndicated loan agreement with Ledesma S.A. (a diversified agribusiness and manufacturing firm in Argentina). The borrower was expected to use the loan proceeds to finance working capital, investments, and refinancing operations for assets in the province of Jujuy in the north west of Argentina.
Additional details
1. The size of ICBC’s contribution to the $141 million syndicated loan is unknown. For the time being, AidData assumes that all 6 members of the syndicate made equal contributions ($23.5 million). 2. The China-Latin America Commercial Loans Tracker, which is produced by the Inter-American Dialogue, does not capture this ICBC loan commitment.
Number of official sources
2
Number of total sources
2
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Banco de Galicia y Buenos Aires S.A. [Private Sector]
Banco Santander Río [Private Sector]
Banco Hipotecario SA [Private Sector]
Banco Macro S.A. [Private Sector]
BBVA Argentina (formerly BBVA Banco Francés) [Private Sector]
Direct receiving agencies [Type]
Ledesma S.A.A.I. [Private Sector]