Overview

ICBC participates in $200 million syndicated three-year term loan facility to Africa Finance Corporation (AFC) for general corporate purposes in 2017

Commitments (Constant USD, 2023)$42,565,055

Commitment Year•2017Country of Activity•Africa, regionalDirect Recipient Country of Incorporation•Africa, regionalSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2017

Last repayment (originally scheduled): Jan 1, 2020

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

Mitsubishi UFJ Financial Group
Rand Merchant Bank (RMB)

State-owned Banks

First Abu Dhabi Bank PJSC (FAB)
KfW IPEX-Bank GmbH

Receiving agencies

Intergovernmental Organizations

Africa Finance Corporation (AFC)

Implementing agencies

Private Sector

Norton Rose Fulbright

Loan description

ICBC participates in $200 million syndicated three-year term loan facility to Africa Finance Corporation (AFC) for general corporate purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

In 2017, Africa Finance Corporation (AFC) signed a US$200mn three-year term loan facility, to be used for general corporate purposes, including facilitating trade. The facility will support the execution of the corporation’s infrastructure development mandate and provide the necessary capital resources required to continue bridging Africa’s infrastructure deficit and facilitating international trade. Mandated lead arrangers and book runners on the facility were First Abu Dhabi Bank, Industrial and Commercial Bank of China, Rand Merchant Bank and Mitsubishi UFJ Financial Group. KfW Ipex-Bank joined as an arranger. Norton Rose Fulbright and Jackson Etti & Edu acted as lenders’ counsel, with White & Case as borrower’s counsel.

Staff comments

1. The precise size of the contribution of ICBC to the loan syndicate is unknown. For the time being, AidData assumes equal contributions to the $200 million loan ($40,000,000) across the 5 known participants in the loan syndicate.