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Overview

China Development Bank contributes $200 million USD to a $220 million USD syndicated loan to Caledon Coal Pty Limited and CC Pty Limited for unspecified purposes (Linked to Record ID#93983)

Commitments (Constant USD, 2023)$205,110,636
Commitment Year•2014Country of Activity•AustraliaDirect Recipient Country of Incorporation•AustraliaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Mar 10, 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 Policy Banks

  • China Development Bank (CDB)

Cofinancing agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Receiving agencies

State-owned companies

  • Caledon Coal Pty Ltd
  • CC Pty Limited

Guarantors

State-owned companies

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

Collateral providers

State-owned companies

  • Caledon Coal Pty Ltd
  • CC Pty Limited

Security / collateral agents

State-owned Commercial Banks

  • Bank of China (BOC)

Loan description

China Development Bank contributes $200 million USD to a $220 million USD syndicated loan to Caledon Coal Pty Limited and CC Pty Limited for unspecified purposes

Interest type•Unknown

Collateral

This loan was secured by a General Security Agreement granted by Caledon Coal and a General Security Agreement granted by CC, both dated February 10, 2014; this agreements included the following as collateral: All Present and After-acquired property (PAP) with exception, general intangibles, and accounts.

Narrative

Full Description

Project narrative

On March 10, 2014, China Development Bank Corporation (CDB) and the Sydney Branch of the Bank of China (BOC), acting through its Brisbane Branch, issued a $220 million USD loan to Caledon Coal Pty Limited and CC Pty Limited for unspecified purposes. CDB contributed $200 million USD and the Sydney Branch of BOC, acting through its Brisbane Branch, contributed $20 million USD. This loan was secured by (i.e. collateralized against) a General Security Agreement granted by Caledon Coal and a General Security Agreement granted by CC, both dated February 10, 2014; this agreements included the following as collateral: All Present and After-acquired property (PAP) with exception, general intangibles, and accounts. The Sydney Branch of BOC, acting through its Brisbane Branch, was the security trustee. Guangdong Rising Assets Management Co., Ltd. (GRAM), a Chinese state-owned investment group owned by Guangdong Province and the ultimate shareholder (100%) of the Caledon Coal Group, issued a guarantee for this loan. Record ID#93982 captures CDB's $200 million USD contribution. Record ID#93983 captures BOC's $20 million USD contribution.