Overview

Bank of China provides a $27 million USD loan to Donghwa Patina NZ for unspecified purposes

Commitments (Constant USD, 2023)$28,731,412

Commitment Year•2017Country of Activity•New ZealandDirect Recipient Country of Incorporation•New ZealandOverseas Jurisdiction•KoreaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2017

Geospatial footprint

Map overview

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Stakeholders

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

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Receiving agencies

Private Sector

Dongwha Patina NZ Ltd.

Loan description

Bank of China provides a $27 million USD loan to Donghwa Patina NZ for unspecified purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

Prior to December 2017, the Seoul Branch of Bank of China (BOC) signed a $27 million USD loan facility agreement with Donghwa Patina NZ Ltd. — a New Zealand-based wood products manufacturer that is part of South Korea's Donghwa Group — for unspecified purposes. After the loan was issued but prior to December 2017, BOC sought to refinance this loan, as advised by New Zealand law firm Simpson Grierson.

Staff comments

1. It is unclear when this loan was provided, although it was prior to December 2017, as it was discussed as having already happened in the December 2017-published "Introducing Simpson Grierson". This issue merits further investigation. 2. It is unclear whether BOC successfully refinanced this loan. This issue merits further investigation.