ICBC participates in EUR 600 million syndicated loan with NLMK for general corporate purposes
Commitment amount
$ 63456647.862920396
Adjusted commitment amount
$ 63456647.86
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Russia
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
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), UniCredit S.p.A. and Intesa Sanpaolo Bank Ireland Plc acted as Mandated Lead Arrangers and UniCredit S.p.A. acted as Facility Agent.
Additional details
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.
Number of official sources
0
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
ING Bank N.V. [Private Sector]
Natixis [Private Sector]
Société Générale [Private Sector]
AO Raiffeisenbank [Private Sector]
Bank of America Merrill Lynch International Limited [Private Sector]
Mizuho Bank [Private Sector]
Deutsche Bank AG Filiale Deutschlandgeschaeft [Private Sector]
UniCredit S.p.A. [Private Sector]
Intesa Sanpaolo Bank Ireland P.L.C. [Private Sector]
Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI)) [Private Sector]
Direct receiving agencies [Type]
OJSC Novolipetsk Steel (NLMK) [Private Sector]
Implementing agencies [Type]
OJSC Novolipetsk Steel (NLMK) [Private Sector]
Loan Details
Maturity
4 years