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Overview

China Eximbank provides $892.47 million loan to IB Offshore Pte. Limited to finance the acquisition of 46 vessels

Commitments (Constant USD, 2023)$922,789,748
Commitment Year•2013Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 28, 2013
Start (actual)
Dec 3, 2013
End (actual)
Oct 21, 2019
First repayment (originally scheduled)
Nov 28, 2013
Last repayment (originally scheduled)
Oct 16, 2019

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 Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • IB Offshore Pte. Limited

Loan description

China Eximbank provides $892.47 million loan to IB Offshore Pte. Limited to finance the acquisition of 46 vessels

Interest type•UnknownMaturity•5.885 years

Narrative

Full Description

Project narrative

On November 28, 2013, China Eximbank and IB Offshore Pte. Limited -- a special purpose vehicle that is legally incorporated -- signed a $892,471,344 loan agreement to finance the acquisition of 46 vessels. The borrowing terms of the loan are unknown. However, it is known that the first loan repayment was due on December 3, 2013 and the last loan repayment was due on October 21, 2019. The 46 vessels are used for assorted purposes, with some serving as firefighting ships, and others as supply ships. The names of the 46 vessels are as follows: 1. BOURBON AMPAN 2. BOURBON CALM 3. BOURBON CLEAR 4. BOURBON EVOLUTION 803 5. BOURBON EVOLUTION 804 6. BOURBON EVOLUTION 805 7. BOURBON EVOLUTION 806 8. BOURBON EVOLUTION 807 9. BOURBON EVOLUTION 808 10. BOURBON EXPLORER 502 11. BOURBON EXPLORER 504 12. BOURBON EXPLORER 506 13. BOURBON FRONT 14. BOURBON GOMEN 15. BOURBON HORUS 16. BOURBON JINDAMANEE 17. BOURBON KAIMOOK 18. BOURBON LIBERTY 101 19. BOURBON LIBERTY 104 20. BOURBON LIBERTY 106 21. BOURBON LIBERTY 22. BOURBON LIBERTY 108 23. BOURBON LIBERTY 109 24. BOURBON LIBERTY 152 25. BOURBON LIBERTY 153 26. BOURBON LIBERTY 154 27. BOURBON LIBERTY 157 28. BOURBON LIBERTY 160 29. BOURBON LIBERTY 161 30. BOURBON LIBERTY 162 31. BOURBON LIBERTY 163 32. BOURBON LIBERTY 202 33. BOURBON LIBERTY 203 34. BOURBON LIBERTY 206 35. BOURBON LIBERTY 309 36. BOURBON LIBERTY 311 37. BOURBON LIBERTY 318 38. BOURBON LIBERTY 319 39. BOURBON LIBERTY 320 40. BOURBON MORRAKOT 41. BOURBON NILGAN 42. BOURBON PAITOON 43. BOURBON PHET 44. BOURBON RAINBOW 45. BOURBON TONG KAM 46. UNGUNDJA.

Staff comments

1. IB Offshore Pte. Limited was legally incorporated in Singapore June 19, 2013.