Bank of China contributes to $255 million syndicated loan to SOCAR for refinancing and general corporate purposes
Commitment amount
$ 19620000.0
Adjusted commitment amount
$ 19620000.0
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Azerbaijan
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On September 17, 2021, the State Oil Company of Azerbaijan Republic (SOCAR) secured a $255 million syndicated loan agreement with a 1-year maturity and an unknown interest rate. Participants in the loan syndicate include Arab Petroleum Investments Corporation, Commercial Bank of Dubai, Bank of China, ING Group, CA Indosuez, Rabobank, Raiffeisen Banking Group, Mizuho Financial Group, First Abu Dhabi Bank, National Bank of Fujairah, UBAF, and Arab Banking Corporation. Each member of the syndicate reportedly contributed $19.62 million. The proceeds of the loan were to be use by the borrower to refinance its existing $210 million revolver, as well as for general corporate purposes.
Number of official sources
0
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Arab Petroleum Investments Corporation (APICORP) [Intergovernmental Organization]
Coöperatieve Rabobank U.A. (Rabobank) [Private Sector]
Internationale Nederlanden Groep (ING Group) [Private Sector]
Commercial Bank of Dubai (CBD) [Private Sector]
CD Indosuez Wealth Management [Private Sector]
Raiffeisen Bank International AG [Private Sector]
Mizuho Financial Group (MHFG) [Private Sector]
First Abu Dhabi Bank (FAB) [State-owned Bank]
National Bank of Fujairah [Private Sector]
Union de Banques Arabes et Francaises (UBAF) [Private Sector]
Arab Banking Corporation (Bank ABC) [State-owned Bank]
Direct receiving agencies [Type]
State Oil Company of the Azerbaijan Republic (SOCAR) [State-owned Company]
Implementing agencies [Type]
State Oil Company of the Azerbaijan Republic (SOCAR) [State-owned Company]
Loan Details
Maturity
1 years