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Overview

ICBC Peru participates in $126 million syndicated loan to Raura for debt refinancing purposes in 2022

Commitments (Constant USD, 2023)$19,843,302
Commitment Year•2022Country of Activity•PeruDirect Recipient Country of Incorporation•PeruOverseas Jurisdiction•PeruSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Sep 22, 2022

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

  • ICBC Perú Bank S.A

Cofinancing agencies

Private Sector

  • Banco de Crédito e Inversiones S.A. (BCI)
  • Banco Internacional del Perú S.A.A. (Interbank Peru)
  • Banco Santander, S.A. (Santander Group) (formerly Banco Santander Central Hispano, S.A.)
  • Citibank, N.A.
  • JPMorgan Chase Bank, N.A. (Chase Bank, formerly the Chase Manhattan Bank)

Receiving agencies

Private Sector

  • Compañía Minera Raura S.A.

Implementing agencies

Private Sector

  • Compañía Minera Raura S.A.

Guarantors

Private Sector

  • Breca Minería S.A.C.

Loan description

ICBC Peru contributes to USD 126 million syndicated loan to Peruvian mining company Raura for debt refinancing purposes in 2022

Interest type•Unknown

Narrative

Full Description

Project narrative

In September 2022, Compañía Minera Raura S.A. (Raura) -- a Peruvian polymetallic miner that specializes in the exploration, development and production of non-ferrous minerals and minerals (including copper, lead, silver, and zinc) -- signed a $126 million syndicated term loan facility with a group of Chinese and non-Chinese banks — Banco Santander, S.A., JPMorgan Chase Bank, N.A., Banco de Crédito e Inversiones S.A., Citibank, N.A., ICBC Peru Bank, and Banco Internacional del Perú S.A.A. — to refinance its existing debts. The loan was guaranteed by Breca Minería S.A.C. and governed by New York law.

Staff comments

1. The size of ICBC’s contribution to the syndicated loan is unknown. For the the time being, AidData assumes equal contributions ($21 million) across the six members of the loan syndicate.