ICBC contributes to $58 million syndicated loan to Aeropuertos Argentina for debt refinancing purposes
Commitment amount
$ 14500000.0
Adjusted commitment amount
$ 14500000.0
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Argentina
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
On November 18, 2021, a $58 million syndicated loan agreement was signed between Aeropuertos Argentina 2000 (AA2000) and the Argentine Branch of the Industrial and Commercial Bank of China (ICBC), Banco de Galicia and Buenos Aires, Banco Santander Río, and Citibank Argentina Branch. The loan agreement signing followed the signing of a framework agreement on October 26, 2021. The borrower was expected to use the loan proceeds to refinance existing debts. According to the framework agreement, the loan may be disbursed in local currency or in USD, at the option of each bank.
Additional details
1. Because the contribution of each syndicate member is unknown, AidData assumes each lender provided an equal contribution and divides the total loan value by the members of the syndicate. There are four members of the syndicate, meaning the transaction amount has been estimated as 58,000,000 / 4 = 14500000 USD.
Number of official sources
0
Number of total sources
3
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Banco de Galicia and Buenos Aires S.A.U. [Private Sector]
Citibank N.A. [Private Sector]
Banco Santander Río [Private Sector]
Direct receiving agencies [Type]
Aeropuertos Argentina 2000 S.A. (AA2000) [Private Sector]