ICBC contributes to $600 million syndicated term loan to Investec for general corporate and refinancing purposes in March 2021 (Linked to Project ID#92677 and #92679)

On March 19, 2021, Investec Bank Limited (“Investec”) and a group of 29 banks signed a $600 million syndicated term loan facility for general corporate and refinancing purposes. The loan had two tranches. Tranche A had a 1 year maturity (with the option of a 1-year extension). Tranche B had a 2 year maturity (with the option of a 1-year extension). Project #92677 records BOC’s contribution; Project #92678 records ICBC’s contribution; Project #92679 records CCB’s contribution. Coordinators, Bookrunners and Mandated Lead Arrangers included Bank of America; Industrial and Commercial Bank of China Limited, London Branch; Intesa Sanpaolo Bank; SMBC Bank International plc; Standard Chartered Bank; and State Bank of India. Mandated Lead Arrangers included Bank of Baroda; Bank of China; Banco BAI Europa S.A.; BNP Paribas S.A.; China Construction Bank Corporation, Johannesburg Branch; Citibank N.A., London Branch; JP Morgan Securities plc; Lloyds Bank Corporate Markets plc; The National Bank of Ras Al Khaimah (P.S.C.); Abu Dhabi Commercial Bank PJSC; Credit Europe Bank N.V.; Erste Group Bank AG; First Abu Dhabi Bank PJSC; HSBC Bank plc – Johannesburg Branch; and Union Bank of India, Hong Kong Branch. Lead Arrangers includedBank of Taiwan, South Africa Branch; Bayerische Landesbank; AfrAsia Bank Limited; MUFG Bank, Ltd.; Unicredit S.p.A.; the Export-Import Bank of the Republic of China; DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main; and KEB Hana Bank.

Additional details

1. The individual contributions of Bank of China, ICBC, China Construction Bank are unknown. For the time being, AidData assumes equal contributions ($20,689,655) across the 29 banks that contributed to the $600 million syndicated loan. 2. It is unclear for which tranche the Chinese banks provided financing. Therefore, AidData assumes the maturity rate as the average value of the two (1.5 years). 3. Investec is an Anglo-South African international banking and wealth management group. It provides a range of financial products and services to a client base in Europe, Southern Africa, and Asia-Pacific. Investec is dual-listed on the London Stock Exchange and the Johannesburg Stock Exchange.

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