ICBC contributes to EUR 406.5 million syndicated loan tranche to Afreximbank for trade financing, debt refinancing, and general corporate purposes in July 2015 (Linked to Record ID#92398, #92399, and #92402)

Project narrative

On July 6, 2015, the African Export-Import Bank (Afreximbank) signed a syndicated loan facility agreement with a group of 34 banks for trade financing, debt refinancing, and general corporate purposes. The loan consisted of two tranches: a $458 million tranche and an EUR 406.5 million tranche. Launched into general syndication on May 20, 2015, the facility was initially supported by the Arab Banking Corporation (B.S.C.); The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Commerzbank Aktiengesellschaft, Filiale Luxemburg; Credit Europe Bank N.V.; Emirates NBD Capital Limited; Rand Merchant Bank, a division of FirstRand Bank Limited (London Branch); HSBC Bank plc.; ICBC (London) plc.; Investec Bank plc.; The Korea Development Bank; Mizuho Bank Ltd.; National Bank of Abu Dhabi PJSC; The Standard Bank of South Africa Limited, Isle of Man Branch; and Standard Chartered Bank, as initial mandated lead arrangers and bookrunners. They were subsequently joined by Abu Dhabi Commercial Bank PJSC; Bank Sohar S.A.O.G.; China Construction Bank Corporation, Johannesburg Branch; Commercial Bank of Kuwait K.P.S.C.; Doha Bank Q.S.C.; The Commercial Bank (Q.S.C.); Qatar National Bank Paris SAQ; and Sumitomo Mitsui Banking Corporation Europe Ltd., which came in as mandated lead arrangers. Commerzbank Aktiengesellschaft, Filiale Luxemburg, is the sole coordinating bank and documentation agent, while Standard Chartered Bank is the facility agent. This project captures ICBC's contribution to the EUR 406.5 million tranche. Record ID#92402 captures CCB's contribution. Record ID#92398 captures ICBC's contribution to the $458 million tranche. Record ID#92399 captures CCB's contribution.