Overview

ICBC contributes $77.8 million USD to a $700 million USD syndicated loan to Santos Finance for unspecified purposes (Linked to Record ID#94050)

Commitments (Constant USD, 2023)$78,289,852

Commitment Year•2018Country 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: Jan 1, 2018

Last repayment (originally scheduled): Jul 1, 2023

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% host country ownership

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

Australia and New Zealand Banking Group (ANZ)
Commonwealth Bank of Australia (CBA) (CommBank)
Mizuho Financial Group (MHFG)
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
RBC Capital Markets
Westpac Banking Corporation

State-owned Banks

Royal Bank of Scotland (RBS)

State-owned Commercial Banks

China Construction Bank Corporation (CCB)

Receiving agencies

Private Sector

Santos Finance Limited

Guarantors

Private Sector

Santos Limited

Loan description

2018 China Construction Bank and ICBC contributions to a $700 million USD syndicated loan to Santos Finance for unspecified purposes

Interest type•Variable Interest RateMaturity•5.5 years

Narrative

Full Description

Project narrative

In 2018, a syndicate of nine banks — including China Construction Bank Corporation (CCB) and the Industrial and Commercial Bank of China (ICBC) — provided a $700 million USD syndicated term loan facility to Santos Finance Limited, a wholly owned subsidiary of Australian oil and gas exploration and production company Santos Limited, for unspecified purposes. This loan carried a maturity period of 5.5 years and a floating interest rate. It was unsecured. Santos Finance issued a guarantee in support of this loan. All lenders, including CCB and ICBC, contributed $77.8 million USD to this syndicated loan. In addition to CCB and ICBC, the following banks contributed to this syndicated loan: MUFG Bank, Ltd., Mizuho Financial Group (MHFG), Australia and New Zealand Banking Group (ANZ), Westpac Banking Corporation, Commonwealth Bank of Australia (CBA), RBC Capital Markets, and Royal Bank of Scotland (RBS). Record ID#94050 captures CCB's contribution to this loan. Record ID#94051 captures ICBC's contribution.

Staff comments

1. Santos Finance Ltd. is a wholly-owned subsidiary of Santos Limited. Santos Limited is a global low-cost producer of oil and gas committed with operations across Australia, Papua New Guinea, Timor-Leste and North America. It is legally incorporated in Australia and headquartered in Adelaide, South Australia.