Overview

ICBC provides a $60 million USD loan to Guangdong Rising (Australia) Holding for unspecified purposes in 2014

Commitments (Constant USD, 2023)$61,533,191

Commitment Year•2014Country of Activity•AustraliaDirect Recipient Country of Incorporation•AustraliaOverseas Jurisdiction•AustraliaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 20, 2014

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 (Australia) Holding Pty Ltd

Guarantors

State-owned companies

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

Loan description

ICBC provides a $60 million USD loan to Guangdong Rising (Australia) Holding for unspecified purposes in 2014

Interest type•Unknown

Narrative

Full Description

Project narrative

On June 20, 2014, the Sydney Branch of the Industrial and Commercial Bank of China (ICBC) issued a $60 million USD loan to Guangdong Rising (Australia) Holding Pty Ltd for unspecified purposes. The funds were then advanced to Caledon Coal Pty Ltd through an intra-group loan. Guangdong Rising (Australia) Holding Pty Ltd was the intermediate shareholder of the Caledon Coal Group. Chinese state-owned investment group Guangdong Rising Assets Management Co., Ltd. (GRAM), the ultimate shareholder (100%) of both Guangdong Rising (Australia) Holding Pty Ltd and the Caledon Coal Group, issued a guarantee for the repayment of this loan.