Overview

ICBC provides a $50 million AUD loan to Energy Developments Limited for general corporate purposes

Commitments (Constant USD, 2023)$46,213,332

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: Feb 6, 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)

Cofinancing agencies

Private Sector

Babson Capital Australia Pty Ltd
BofA Securities, Inc. (Formerly Bank of America Merrill Lynch (BAML))
ING Bank N.V.
Investec Group
Macquarie Bank Limited
National Australia Bank Limited (NAB)
UBS Group AG

Receiving agencies

Private Sector

Energy Developments Limited (EDL)

Loan description

ICBC provides a $50 million AUD loan to Energy Developments Limited for general corporate purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

On February 6, 2014, it was announced that the Industrial and Commercial Bank of China (ICBC) had executed documentation to issue a $50 million AUD loan to Energy Developments Limited (EDL), an Australian energy company. The proceeds of this loan were to made available to EDL for its near-term expansion growth and other corporate opportunities. This loan was to be available from the end of February 2014 With its contribution to EDL's corporate debt facility, ICBC joined EDL's lending syndicate, which included National Australia Bank Limited (NAB), Bank of America Merrill Lynch, Investec, Macquarie Bank, ING Bank N.V., Babson Capital Australia, and UBS AG.