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Overview

ICBC contributes $18.75 million USD to a $150 million syndicated loan to SOCAR Trading S.A. for general corporate purposes in November 2015

Commitments (Constant USD, 2023)$19,616,220
Commitment Year•2015Country of Activity•AzerbaijanDirect Recipient Country of Incorporation•SwitzerlandSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 18, 2015

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

  • Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

  • Commercial Bank of Dubai PSC (CBD)
  • Coöperatieve Rabobank U.A. (Rabobank)
  • ING Bank N.V.
  • Raiffeisen Bank International AG
  • Société Générale S.A. (SocGen or Societe Generale)
  • The Bank of Tokyo-Mitsubishi, Ltd. (BTM)
  • Türkiye Garanti Bank BBVA

Receiving agencies

State-owned companies

  • SOCAR Trading S.A

Loan description

Industrial and Commercial Bank of China contributes to USD 150 million syndicated loan to SOCAR Trading S.A. for general corporate purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

On November 18, 2015, SOCAR Trading S.A. — the international marketing and development arm of the State Oil Company of Azerbaijan Republic (SOCAR) — secured a $150 million syndicated loan with 8 banks for general corporate purposes. Participants in the syndicated included Bank of Tokyo-Mitsubishi UFJ, Commercial Bank of Dubai, Industrial and Commercial Bank of China (ICBC), and ING as mandated lead arrangers; Rabobank and Société Générale as bookrunning mandated lead arrangers; and GarantiBank and Raiffeisen Bank International as lead arrangers.

Staff comments

1. The precise monetary value of ICBC’s contribution is unknown. For the time being, AidData assumes equal contributions ($18.75 million)> across the eight members of the syndicate.