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Overview

ICBC participates in $520 million syndicated loan to SBSA for general financing purposes (Linked to Record ID#88470, #92688, #92689, and #92690)

Commitments (Constant USD, 2023)$89,410,053
Commitment Year•2020Country of Activity•South AfricaDirect Recipient Country of Incorporation•South AfricaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Oct 20, 2020
Last repayment (originally scheduled)
Oct 20, 2023

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

  • Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

  • Afrasia Bank Limited

State-owned Commercial Banks

  • China Construction Bank Corporation (CCB)
  • Shanghai Pudong Development Bank Co., Ltd. (SPDB)

State-owned Policy Banks

  • China Development Bank (CDB)
  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Private Sector

  • Standard Bank of South Africa Limited (Standard Bank)

Loan description

In 2020, China Development Bank, ICBC, China Eximbank, CCB, Shanghai Pudong Development Bank participates in USD 520 million syndicated loan to SBSA for general corporate purposes.

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On October 20, 2020, Standard Bank of South Africa Limited (“SBSA”) signed a $520 million syndicated term loan agreement with 6 banks for general financing purposes. The loan carried a 3-year maturity and an unknown interest rate. The participants in the loan syndicate included China Development Bank (CDB) (captured via Record ID#92690), Industrial and Commercial Bank of China (ICBC) (captured via Record ID#92687), China Construction Bank (CCB) (captured via Record ID#92688), China Eximbank (captured via Record ID#92689), Shanghai Pudong Development Bank Co., Ltd. (SPDB) (captured via Record ID#88470), and Afrasia Bank Limited.

Staff comments

1. The individual contributions of CDB, ICBC, China Construction Bank, China Eximbank, and Shanghai Pudong Development Bank Co., Ltd. are unknown. For the time being, AidData assumes equal contributions ($86.66 million) across the 6 banks that contributed to the $520 million syndicated loan.