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Overview

China Construction Bank (Guangxi Branch) contributes to a USD 1 billion syndicated loan for Alliance Steel (M) Sdn Bhd in June 2017

Commitments (Constant USD, 2023)$1,064,126,381
Commitment Year•2017Country of Activity•MalaysiaDirect Recipient Country of Incorporation•MalaysiaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

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% Chinese ownership

Funding agencies

State-owned Commercial Banks

  • China Construction Bank Corporation (CCB)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Alliance Steel (M) SDN BHD

Loan description

China Construction Bank (Guangxi Branch) contributes to a USD 1 billion syndicated loan for Alliance Steel (M) Sdn Bhd in June 2017

Interest type•Unknown

Narrative

Full Description

Project narrative

In June 2017, China Construction Bank Guangxi Branch contributed to a USD 1 billion syndicated loan for Alliance Steel (M) Sdn Bhd -- a special purpose vehicle and joint venture of Guangxi Beibu Gulf International Port Group Co., Ltd. and Guangxi Shenglong Metallurgical Co., Ltd. China Construction Bank Guangxi acted as the mandated lead arranger and bookrunner of the loan. Other contributors to the syndicate loan are unknown at this time. Also in June 2017, RM 1.5 billion MYR (350 million USD) was drawn down from the syndicate loan. This portion of the loan may be used to finance the Malaysia-China Kuantan Industrial Park Integrated Steel Project. The project involves the construction of an industrial park on 600ha of land in Gebeng, Pahang, Malaysia.

Staff comments

1. AidData assumes that the drawdown may be used for the Malaysia-China Kuantan Industrial Park Integrated Steel Project, based on Source ID #186387. 2. This loan may have been an incarnation of the $664 million USD and RMB 2 million loan from CCB, China Eximbank, and Agricultural Bank of China (Source IDs #62336 and #62338). To avoid duplication in aggregate figures, AidData has marked this project as umbrella.