ICBC participates in $980 million syndicated loan for Reliance Industries for debt refinancing purposes
Commitment amount
$ 68073379.90686563
Adjusted commitment amount
$ 68073379.91
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
India
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In March 2016, Industrial and Commercial Bank of China (ICBC) participated in a $980 million syndicated loan facility agreement with Reliance Industries. The borrowing terms of the loan are unknown. The proceeds of the loan were to be used by the borrower to refinance an existing facility (loan) that it contracted in August 2010. The participating banks in the March 2016 syndicated loan included ANZ, Bank of America, Bank of Nova Scotia Asia, Bank of Tokyo-Mitsubishi UFJ, Barclays Bank, Citibank, Credit Agricole CIB, DBS, Societe Generale Corporate & Investment Banking, Standard Chartered Bank, Sumitomo Mitsui Banking Corp, UOB, Export-Import Bank of the Republic of China, and Westpac. Export Development Canada, Industrial & Commercial Bank of China, and Mizuho Bank joined as mandated lead arrangers.
Additional details
1. AidData assumes equal contributions by each member of the syndicate. $980 million divided by 17 participants is $57.65 million from each member of the syndicate.
Number of official sources
0
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
ANZ Bank [Private Sector]
Bank of America Corporation [Private Sector]
Bank of Nova Scotia Asia Limited (BNS Asia Limited) [Private Sector]
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)) [Private Sector]
Barclays Bank Plc [Private Sector]
Credit Agricole CIB Australia Limited [Private Sector]
Development Bank of Singapore (DBS) [Private Sector]
Societe Generale Corporate and Investment Banking (SGCIB) [Private Sector]
Standard Chartered Bank PLC [Private Sector]
Sumitomo Mitsui Banking Corporation Group (SMBC Group) [Private Sector]
United Overseas Bank Limited (UOB) [Private Sector]
Westpac Banking Corporation [Private Sector]
Export Development Canada (EDC) [State-owned Bank]
Mizuho Bank [Private Sector]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Citibank N.A. [Private Sector]
Direct receiving agencies [Type]
Reliance Industries Ltd. [Private Sector]