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Overview

ICBC contributes to $141 million syndicated loan to Ledesma for working capital, investment, and refinancing activities

Commitments (Constant USD, 2023)$24,585,662
Commitment Year•2015Country of Activity•ArgentinaDirect Recipient Country of Incorporation•ArgentinaOverseas Jurisdiction•ArgentinaSector•Other MultisectorFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2015

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (Argentina) Limited (ICBC (Argentina))

Cofinancing agencies

Private Sector

  • Banco de Galicia y Buenos Aires S.A.
  • Banco Hipotecario SA
  • Banco Macro S.A.
  • Banco Santander Río
  • BBVA Argentina (formerly BBVA Banco Francés)

Receiving agencies

Private Sector

  • Ledesma S.A.A.I.

Loan desecription

ICBC contribution to USD $141 million syndicated loan to Ledesma for working capital, investment, and refinancing activities

Interest type•Unknown

Narrative

Full Description

Project narrative

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.

Staff comments

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.