Overview

Bank of China contributes to SGD 664 million club loan facility to CEL Unique Development for development and construction purposes

Commitments (Constant USD, 2023)$170,585,033

Commitment Year•2017Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2017

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

Bank of China (BOC)

Cofinancing agencies

Private Sector

DBS Bank Ltd.
Oversea-Chinese Banking Corporation, Limited (OCBC Bank)

Receiving agencies

Joint Venture/Special Purpose Vehicles

CEL Unique Development Pte Ltd

Loan description

Bank of China contributions to SGD 664 million 2017 syndicated club loan for development and construction purposes of CEL Unique Development

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2017, Bank of China, along with DBS and OCBC, contributed to an SGD 664 million club loan facility to CEL Unique Development, a Singaporean real estate developer. The proceeds of the facility will be used for development and construction purposes. The terms of the loan are unclear.

Staff comments

1. As AidData is unable to ascertain individual contributions to the facility, it has assumed that each club lender has contributed an equal amount (SGD 221,333,333).