Overview

China Development Corporation provides a $50 million loan to Guangdong Rising Assets Management for unspecified purposes in 2016

Commitments (Constant USD, 2023)$54,536,079

Commitment Year•2016Country 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: Sep 20, 2016

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)

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

China Development Corporation provides a $50 million loan to Guangdong Rising Assets Management for unspecified purposes in 2016

Interest type•Unknown

Narrative

Full Description

Project narrative

On September 20, 2016, the China Development Bank Corporation (CDB) 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 Caledon Coal, issued a guarantee for the repayment of this loan.