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Overview

ICBC contributes to $58 million syndicated loan to Aeropuertos Argentina for debt refinancing purposes

Commitments (Constant USD, 2023)$13,371,054
Commitment Year•2021Country of Activity•ArgentinaDirect Recipient Country of Incorporation•ArgentinaOverseas Jurisdiction•ArgentinaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 18, 2021

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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ICBC contributed to a syndicated loan to Aeropuertos Argentina for debt refinancing. More detailed locational information can be found at: https://www.openstreetmap.org/way/1184833402

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 (Argentina) Limited (ICBC (Argentina))

Cofinancing agencies

Private Sector

  • Banco de Galicia and Buenos Aires S.A.U.
  • Banco Santander Río
  • Citibank, N.A.

Receiving agencies

Private Sector

  • Aeropuertos Argentina 2000 S.A. (AA2000)

Loan desecription

ICBC contribution to USD $58 million syndicated loan to Aeropuertos Argentina for debt refinancing purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

On November 18, 2021, a $58 million syndicated loan agreement was signed between Aeropuertos Argentina 2000 (AA2000) and the Argentine subsidiary 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.

Staff comments

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.