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Overview

ICBC Moscow participates in EUR 600 million syndicated loan with NLMK for general corporate purposes

Commitments (Constant USD, 2023)$58,621,240
Commitment Year•2020Country of Activity•RussiaDirect Recipient Country of Incorporation•RussiaOverseas Jurisdiction•RussiaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 1, 2020
Last repayment (originally scheduled)
Jun 30, 2024

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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ICBC participates a syndicated loan with NLMK for general corporate purposes. More detailed locational information can be found at: https://www.openstreetmap.org/way/46567622

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Commercial Banks

  • Bank ICBC (JSC) (ICBC Moscow)

Cofinancing agencies

Private Sector

  • AO Raiffeisenbank
  • Bank of America Merrill Lynch International Limited
  • Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
  • Deutsche Bank AG
  • ING Bank N.V.
  • Intesa Sanpaolo Bank Ireland P.L.C. (formerly Sanpaolo IMI Bank Ireland P.L.C.)
  • Mizuho Bank, Ltd.
  • Natixis
  • Société Générale S.A. (SocGen or Societe Generale)
  • UniCredit S.p.A. (formerly UniCredito Italiano S.p.A.)

Receiving agencies

Private Sector

  • OJSC Novolipetsk Steel (NLMK)

Implementing agencies

Private Sector

  • OJSC Novolipetsk Steel (NLMK)

Loan description

ICBC contribution to EUR 600 million syndicated loan with NLMK for general corporate purposes

Interest type•UnknownMaturity•4 years

Narrative

Full Description

Project narrative

In July 2020, OJSC Novolipetsk Steel (OJSC NLMK) signed a 4-year, EUR 600 million syndicated revolving credit facility with a group of Chinese and non-Chinese banks for general corporate purposes. The loan includes an accordion option that allows the borrower to increase the size of the loan to EUR 1 billion. ING Bank N.V. acted as Co-ordinating Mandated Lead Arranger. Crédit Agricole Corporate and Investment Bank, Natixis, Société Générale, AO Raiffeisenbank, Bank of America Merrill Lynch International Designated Activity Company, Mizuho Bank, Ltd., Deutsche Bank AG, London Branch, Bank ICBC (JSC) (ICBC Moscow), UniCredit S.p.A. and Intesa Sanpaolo Bank Ireland Plc acted as Mandated Lead Arrangers and UniCredit S.p.A. acted as Facility Agent.

Staff comments

1. OJSC NLMK is a global steel producer headquartered in Lipetsk, Russia. 2. The size of ICBC’s contribution to the loan syndicate is unknown. For the time being, AidData assumes equal contributions (EUR 50 million) across the 12 known participants in the loan syndicate.