Overview

ICBC provides a $50 million USD loan to Guangdong Rising Assets Management for unspecified purposes in 2013

Commitments (Constant USD, 2023)$51,698,565

Commitment Year•2013Country of Activity•AustraliaDirect Recipient Country of Incorporation•Multiple JurisdictionsSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: May 23, 2013

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% Chinese ownership

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

State-owned companies

Caledon Coal Pty Ltd
Guangdong Rising Assets Management Co., Ltd. (GRAM)

Guarantors

State-owned companies

Guangdong Rising Assets Management Co., Ltd. (GRAM)

Loan description

ICBC provides a $50 million USD loan to Guangdong Rising Assets Management for unspecified purposes in 2013

Interest type•Unknown

Narrative

Full Description

Project narrative

On May 23, 2013, the Industrial and Commercial Bank of China (ICBC) issued a $50 million USD loan to Chinese state-owned investment group Guangdong Rising Assets Management Co Ltd (GRAM) for unspecified purposes. The funds were then advanced to Caledon Coal Pty Ltd through an intra-group loan; GRAM, the ultimate shareholder (100%) of the Caledon Coal Group, issued a guarantee for the repayment of this loan.