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Overview

Bank of China contributes to $200 million syndicated loan to Azerbaijan’s state-owned oil company (SOCAR) for unspecified purposes

Commitments (Constant USD, 2023)$34,599,237
Commitment Year•2019Country of Activity•AzerbaijanDirect Recipient Country of Incorporation•AzerbaijanSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Sep 1, 2019

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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This project supports a syndicated loan to SOCAR, which is headquartered in Baku, Azerbaijan. More detailed locational information can be found at: https://www.openstreetmap.org/way/357399633

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

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Commercial Bank of Dubai PSC (CBD)
  • DBS Bank Ltd.
  • SG Corporate & Investment Banking
  • UniCredit Bank AG
  • Union de Banques Arabes et Francaises (UBAF)

Receiving agencies

State-owned companies

  • State Oil Company of the Azerbaijan Republic (SOCAR)

Loan description

Bank of China contributes to USD 200 million syndicated loan to State Oil Company of Azerbaijan Republic (SOCAR) for unspecified purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In September 2019, a group of banks issued a $200 million loan to State Oil Company of Azerbaijan Republic (SOCAR) for unspecified purposes. The syndicate consisted of Bank of China, Commercial Bank of Dubai, DBS, SG Corporate & Investment Banking, UniCredit, and Union de Banques Arabes et Francaises (UBAF). The borrowing terms of the loan are unknown.

Staff comments

1. The size of Bank of China’s contribution to the syndicate is unknown. For the time being, AidData assumes that all 6 members of the syndicate made equal contributions ($33.333 million).