ICBC contributes to $1.2 billion syndicated loan to Afreximbank for on-lending purposes in December 2021
Commitment amount
$ 54545454.0
Adjusted commitment amount
$ 54545454.0
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Africa, regional
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
No
Category
Project lifecycle
Description
On December 21, 2021, the African Export-Import Bank (Afreximbank) signed a $1.2 billion syndicated term loan facility agreement with a group of 22 banks, including the Industrial and Commercial Bank of China (ICBC). The loan carried a 3-year maturity and unknown interest rate. First Abu Dhabi Bank PJSC, Rand Merchant Bank, a division of FirstRand Bank Limited (London Branch) and Standard Chartered Bank acted as joint Global Coordinators, Mandated Lead Arrangers and Bookrunners on the Facility. Standard Chartered Bank acted as Documentation Agent and is the Facility Agent for the transaction.
Additional details
1. The exact size of ICBC’s contribution to the loan syndicate is unknown. For the time being, AidData assumes equal contributions ($54,545,454) across the 22 participants in the loan syndicate.
Number of official sources
1
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
First Abu Dhabi Bank (FAB) [State-owned Bank]
Standard Chartered Bank PLC [Private Sector]
Absa Bank Limited [Private Sector]
Abu Dhabi Commercial Bank PJSC (ADCB) [State-owned Bank]
Credit Europe Bank [Private Sector]
KDB Bank Europe Limited [Government Agency]
Mashreqbank PSC [Private Sector]
Mizuho Bank [Private Sector]
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)) [Private Sector]
State Bank of India (SBI) [State-owned Bank]
Standard Bank of South Africa Limited (Standard Bank) [Private Sector]
HSBC Bank PLC [Private Sector]
Emirates NBD Bank PJSC [State-owned Bank]
Gulf Bank of Kuwait KSCP (Gulf Bank) [Private Sector]
Korea Development Bank (KDB) [State-owned Bank]
Bank Muscat [State-owned Bank]
Citibank N.A. [Private Sector]
Arab Banking Corporation (Bank ABC) [State-owned Bank]
Rand Merchant Bank (RMB) [Private Sector]
SMBC Bank International PLC (formerly Sumitomo Mitsui Banking Corporation Europe Limited (SMBCE)) [Private Sector]
Commerzbank Aktiengesellschaft (Commerzbank AG) [Private Sector]
Direct receiving agencies [Type]
African Export-Import Bank (Afreximbank) [Intergovernmental Organization]
Implementing agencies [Type]
African Export-Import Bank (Afreximbank) [Intergovernmental Organization]
Loan Details
Maturity
3 years