ICBC provides $30 million — via tranche A of $40 million loan — to EDL-Generation Public Company for working capital purposes (Linked to Project ID#62827)

On December 20, 2017, EDL-Generation Public Company, a subsidiary of Électricité du Laos, signed a $40 million credit facility agreement the Industrial and Commercial Bank of China Vientiane Branch for working capital purposes. The facility consisted of two tranches: a $30 million tranche known as tranche A (captured in Project ID#62691) and a $10 million tranche known as tranche B (captured in Project ID#62827). Both tranches were fully disbursed January 2, 2018. Both tranches carried an interest rate of 6-month LIBOR (1.768% in December 2017) plus a 3.2% margin (or 4.968%). The maturity length of the loan was 3 years after the drawdown.

Additional details

1. Électricité du Laos (EDL) is the state corporation of Laos that owns and operates the country's electricity generation, electricity transmission and electricity distribution assets. The company also manages the import and export of electricity from the national electricity grid of the country. EDL-Generation Company Limited (EDL-Gen) was incorporated in 2010 and operates as a subsidiary of Electricite Du Laos.

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