ICBC provides PEN 12.4 million loan to Mota-Engil Perú S.A. for working capital purposes
Commitment amount
$ 4381808.920667597
Adjusted commitment amount
$ 4381808.92
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Peru
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
No
Category
Project lifecycle
Description
On December 29, 2017, Mota-Engil Perú S.A. — a subsidiary of the Mota Engil Group that provides construction, engineering and mining services — secured a $26 million loan and a PEN 12.4 million loan from Industrial and Commercial Bank of China Limited, Dubái, (DIFC) Branch and ICBC PerúBank S.A. The borrowing terms of the loan are unknown. However, it is known that Mota-Engil Latin America BV, established in Amsterdam, issued a corporate repayment guarantee. The loan is secured by (i.e. collateralized against) a pledge agreement over banks accounts, an asset trust, among others.
Additional details
1. Mota-Engil Peru, S.A. provides construction, engineering, and mining services; and it sells construction and mining equipment. The company is a subsidiary of Mota Engil Group, the leading Engineering and Construction Group of Portugal. Mota Engil Peru began operating in 1986 under the name Translei, focusing on infrastructure projects in mining and road transport sectors as well as services for Buildings and Concessions. It was purchased by Mota & Compania and Engil (now Mota Engil Group) in 1998 and 1999. 2. The USD $26 million loan is captured via Project ID#95678
Number of official sources
1
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Mota-Engil Peru, S.A. [Private Sector]
Implementing agencies [Type]
Mota-Engil Peru, S.A. [Private Sector]
Guarantee provider [Type]
Mota-Engil Latin America BV [Private Sector]
Collateral
Pledge agreement over banks accounts, an asset trust, among others