Project ID: 96137

ICBC contributes RMB 125 million to syndicated loan with DenizBank for on-lending purposes

Commitment amount

$ 19379844.96124031

Adjusted commitment amount

$ 19379844.96

Constant 2021 USD

Summary

Funding agency [Type]

Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]

Recipient

Türkiye

Sector

Banking and financial services (Code: 240)

Flow type

Loan

Level of public liability

Private debt

Infrastructure

No

Category

Intent

Commercial (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Implementation (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2021-06-03

Actual start

2021-06-10

Description

On June 3, 2021, DenizBank A.Ş. signed a $410 million syndicated loan agreement with a group of Chinese and non-Chinese banks and three separate tranches (an EUR tranche, a USD tranche, and an RMB tranche). The loan carried a 1-year maturity and an RMB 125 million tranche from the Dubai Branch of the Industrial and Commercial Bank of China (ICBC). The RMB tranche fully disbursed on June 10, 2021. The proceeds of the loan were to be used by the borrower for on-lending purposes.

Additional details

1. DenizBank A.Ş. is a large private bank in Turkey. It is currently owned by Emirates NBD. It was owned and controlled by leading Russian bank Sberbank from 2012 to 2019.

Number of official sources

3

Number of total sources

3

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Details

Cofinanced

Yes

Direct receiving agencies [Type]

DenizBank [Private Sector]

Implementing agencies [Type]

DenizBank [Private Sector]

Loan Details

Syndicated loan

Inter-bank loan