Overview

Bank of China loans CAD 150 million to Cominar for the financing of the Centre Rockland shopping center

Commitments (Constant USD, 2023)$122,956,546

Commitment Year•2017Country of Activity•CanadaDirect Recipient Country of Incorporation•CanadaOverseas Jurisdiction•CanadaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 12, 2017

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Commercial Banks

Bank of China (Canada)

Receiving agencies

Private Sector

Cominar

Loan description

Bank of China loans CAD 150 million to Cominar for the financing of the Centre Rockland shopping center

Interest type•Unknown

Narrative

Full Description

Project narrative

On January 12, 2017, the Bank of China's (BOC) Canadian subsidiary loaned CAD 150 million to Cominar for the financing of the Centre Rockland shopping center. The terms and specific purpose of the loan are unknown. The Centre Rockland shopping center opened in 1959 and covers 646,000 square feet. Cominar is one of the largest commercial property owners and managers in Quebec. This loan was the Bank of China's Canadian subsidiary's first financing commitment in Quebec.

Staff comments

1. Centre Rockland is also referred to as Rockland Centre in English. 2. Before March 2022, Cominar was known as Cominar Real Estate Investing Trust (REIT), and is referred to as such in the sources.