ICBC contributes to a $300 million USD syndicated loan for the Africa Finance Corporation in December 2018 for general financing purposes

In December 2018, a syndicate of banks — including the Industrial and Commercial Bank of China (ICBC) — entered into a $300 million USD loan facility for the African Finance Corporation (AFC). The loan carried a maturity period of three years and a final maturity date in December 2018. The proceeds were to be used for general financing purposes. In addition to ICBC, the following lenders are known to have contributed: MUFG Bank, Ltd, First Abu Dhabi Bank (FAB), JPMorgan, KfW, Nedbank, First Bank, and the Sumitomo Mitsui Banking Corporation (SMBC). ICBC and MUFG served as joint coordinators, bookrunners, mandated lead arrangers, and documentation agents. FAB served as a bookrunner, mandated lead arranger, and facility agent. JPMorgan, KfW, Nedbank, First Rand, and SMBC served as mandated lead arrangers. The loan matured in December 2018.

Additional details

1. The individual contribution of the eight lenders to this $300 million USD syndicated loan is unknown. For the time being, AidData has estimated the contribution of ICBC by assuming that each lender contributed an equal amount ($37,500,000 USD) to the syndicated loan.

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