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Overview

Bank of China contributes to $282 million AUD syndicated loan to Billbergia Group for a 700 unit mixed-use residential and retail development (Linked to Record ID#97118)

Commitments (Constant USD, 2023)$57,504,186
Commitment Year•2017Country of Activity•AustraliaDirect Recipient Country of Incorporation•AustraliaSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jun 1, 2017

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

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Australia and New Zealand Banking Group (ANZ)
  • Commonwealth Bank of Australia (CBA) (CommBank)
  • Pramerica Financial Limited

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

  • Billbergia Pty Ltd (Billbergia Group)

Loan description

$282 million AUD syndicated loan to Billbergia Group for a 700 unit mixed use residential and retail development in Australia

Interest type•Unknown

Narrative

Full Description

Project narrative

Prior to June 2017, a syndicate of four banks — the Bank of China (BOC), the Industrial and Commercial Bank of China (ICBC), Australia and New Zealand Banking Group (ANZ), and Commonwealth Bank of Australia (CBA) — entered into a $282 million AUD structured senior syndicated loan agreement with Australian property developer Billbergia Group for a 700-unit mixed use residential and retail development project in Australia. Pramerica provided cross-border mezzanine debt facilities for this project. Record ID#97117 captures BOC's contribution to this loan. Record ID#97118 captures ICBC's contribution.

Staff comments

1. The individual contribution of the four lenders to this $282 million AUD syndicated loan is unknown. For the time being, AidData has estimated the contribution of BOC and ICBC by assuming that each lender contributed an equal amount ($70,500,000 AUD) to the syndicated loan. 2. AidData has not yet identified the specific development supported by this loan, nor when this loan was accrued, despite direct communications to a lawyer involved in this deal. Since this loan must have been issued prior to June 2017, as it appears on an Internet Archive archived-page on June 11, 2017, AidData has coded June 2017 as the commitment date and marked the commitment_date_estimated? field as True.