Narrative
Full Description
Project narrative
On August 7, 2019, the Industrial and Commercial Bank of China (ICBC), the Agricultural Bank of China (ABC), and the Industrial Bank of Korea (IBK) extended a 4-year, $120 million syndicated loan to InfraPartners Management LLP (IMP) to partially finance Ameris Capital AGF's acquisition of a 37% equity stake in the Mejillones LNG (liquified natural gas) facility in Chile. Record ID#91600 captures the estimated contribution from the Agricultural Bank of China, while Record ID#89361 captures the estimated contribution from ICBC. Ameris Capital AGF purchased a 37% stake in the Mejillones LNG for $193.5 million from the state-owned mining company Codelco on August 7, 2019. The 5.5 million cubic meter gas facility is controlled and operated by French energy giant Engie, which holds a 63% equity stake.
Staff comments
1. The size of each bank’s contribution to the lending syndicate is unknown. For the time being, AidData estimates equal contributions ($40,000,000) across the three members of the syndicate. 2. Official statements from Ameris indicate that the equity stake was acquired by its Ameris Intraestructura Fodo de Inversion fund and was partly financed by a syndicated loan from ICBC and the Agricultural Bank of China.