Agricultural Bank of China contributes to USD 120 million syndicated loan for Ameris Capital Acquisition of Mejillones LNG facility (linked to #89361)

On August 7, 2019, ICBC and Agricultural Bank of China collaborated with the Industrial Bank of Korea (IBK) to extend a syndicated loan totaling USD 120 million to fund part of a stake purchase by Ameris Capital AGF for the Mejillones LNG (liquified natural gas) facility in Chile via a consortium led by InfraPartners Management LLP (IMP) Korea. The 4-year loan consists of USD 120 million in total from all three entities with unspecified contributions from each member. This project captures the contribution from the Agricultural Bank of China, while project ID #89361 captures the contribution from ICBC. Ameris Capital AGF purchased a 37% stake in the Mejillones LNG for a total of USD 193.5 million from the state-owned mining company Codelco. The 5.5 million cubic meter of gas facility is controlled and operated by French energy giant Engie who holds a 63% stake. Official statements from Ameris state that the stake had been 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.

Additional details

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.

Number of official sources

0

Number of total sources

5