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Overview

ICBC (London) contributes to $1.5 billion USD syndicated loan facility to Trafigura Investment for oil prepayment in 2013

Commitments (Constant USD, 2023)$91,232,761
Commitment Year•2013Country of Activity•LuxembourgDirect Recipient Country of Incorporation•LuxembourgOverseas Jurisdiction•United KingdomSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Oct 4, 2013

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Commercial Banks

  • ICBC (London) PLC

Cofinancing agencies

Private Sector

  • Apple Bank for Savings Inc.
  • BAWAG P.S.K. Bank Für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft (BAWAG P.S.K.)
  • BNP Paribas (Suisse) S.A.
  • Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland)
  • Crédit Agricole (Suisse) S.A. (CAS)
  • Deutsche Bank AG
  • ICICI Bank Limited
  • Lloyds Bank plc (formerly Lloyds TSB Bank PLC)
  • Mashreqbank PSC
  • Royal Bank of Scotland
  • Société Générale S.A. (SocGen or Societe Generale)
  • UniCredit Bank AG
  • United Overseas Bank Limited (UOB)

State-owned Banks

  • Banco do Brasil S.A.
  • KfW IPEX-Bank GmbH

Receiving agencies

Private Sector

  • Trafigura Investment Sàrl

Guarantors

Private Sector

  • Trafigura Beheer BV

Loan description

ICBC contributes to USD 1.5 billion syndicated loan facility to Trafigura Investment for oil prepayment

Interest type•Unknown

Narrative

Full Description

Project narrative

On October 4, 2013, a syndicate of 17 banks — including ICBC (London) plc — signed a $1.5 billion USD syndicated loan facility with Trafigura Investment Sàrl — a Luxembourg-incorporated subsidiary of Trafigura — for oil prepayment. Proceeds of the transaction were to be used to make a prepayment to Rosneft Oil Company in relation to a crude oil delivery contract signed between Trafigura and Rosneft in June 2013. The facility would be discharged by crude oil deliveries to Trafigura. Trafigura Beheer B.V. provided a financial guarantee on the full resource tranches of the facility. The Royal Bank of Scotland plc (RBS) and Société Générale S.A. served as bookrunners for the facility. Mandated lead arrangers were BNP Paribas (Suisse) S.A., KfW IPEX-Bank GmbH, Lloyds Bank plc, and Unicredit Bank AG. Participants included ICBC, Apple Bank for Savings, BAWAG P.S.K. Bank Für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft, the London Branch of Banco do Brasil, Credit Agricole (Suisse) S.A., the London Branch of Coöperatieve Centrale Raiffeissen-Boerenleenbank B.A., the Utrecht Branch of Coöperatieve Centrale Raiffeissen-Boerenleenbank B.A., the Amsterdam Branch of Deutsche Bank, ICICI, Mashreqbank, and United Overseas Bank Limited (UOB).

Staff comments

1. The individual contributions of the 17 lenders to this $1.5 billion USD tranche are unknown. Therefore, for the time being, to estimate ICBC (London)'s contribution, AidData has assumed that each lender contributed equally ($88,235,294.1176 USD) to the loan syndicate.