Overview

Bank of China provides a $478 million USD loan to Guangdong Rising (Australia) Holding for unspecified purposes in 2011

Commitments (Constant USD, 2023)$543,245,637

Commitment Year•2011Country of Activity•AustraliaDirect Recipient Country of Incorporation•AustraliaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Sep 29, 2011

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

Bank of China (BOC)

Receiving agencies

State-owned companies

Guangdong Rising (Australia) Holding Pty Ltd
Guangdong Rising (Australia) Pty Ltd

Guarantors

State-owned companies

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

Loan description

Bank of China provides a $478 million USD loan to Guangdong Rising (Australia) Holding for unspecified purposes in 2011

Interest type•Unknown

Narrative

Full Description

Project narrative

On September 29, 2011, the Bank of China (BOC) issued a $478 million USD loan to Guangdong Rising (Australia) Holding Pty Ltd for unspecified purposes. The funds were then advanced to its immediate wholly owned Australia-registered subsidiary Guangdong Rising (Australia) Pty Ltd through an intra-group loan. Chinese state-owned investment group Guangdong Rising Assets Management Co., Ltd. (GRAM), the ultimate shareholder (100%) of Guangdong Rising (Australia) Holding, issued a guarantee for the repayment of this loan.