Overview

ICBC provides $10 million — via tranche B of $40 million loan — to EDL-Generation Public Company for working capital purposes (Linked to Record ID#62691)

Commitments (Constant USD, 2023)$10,641,264

Commitment Year•2017Country of Activity•Lao People's Democratic RepublicDirect Recipient Country of Incorporation•Lao People's Democratic RepublicOverseas Jurisdiction•Lao People's Democratic RepublicSector•EnergyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 20, 2017

Start (actual): Dec 20, 2017

End (actual): Jan 2, 2018

Last repayment (originally scheduled): Jan 1, 2020

Geospatial footprint

Map overview

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This project provides $10 million to EDL-Generation Public Company for working capital purposes. More detailed locational information can be found at https://www.openstreetmap.org/way/451280597.

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 (ICBC)

Receiving agencies

State-owned companies

EDL-Generation Public Company

Loan description

ICBC provides $10 million — via tranche B of $40 million loan — to EDL-Generation Public Company for working capital purposes

Grant element•6.2872%Interest rate (t₀)•5.01413%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•3 years

Narrative

Full Description

Project narrative

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 Record ID#62691) and a $10 million tranche known as tranche B (captured in Record 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.

Staff comments

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.