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Overview

ICBC contributes to USD 1.76 billion syndicated multi-tranche lending facility to Trafigura Pte Ltd for debt refinancing and general corporate purposes in 2013 (linked to Record ID#98438)

Commitments (Constant USD, 2023)$47,889,196
Commitment Year•2013Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Oct 9, 2013
Last repayment (originally scheduled)
Oct 8, 2016

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 (ICBC)

Cofinancing agencies

Private Sector

  • Australia and New Zealand Banking Group (ANZ)
  • DBS Bank Ltd.
  • National Australia Bank Limited (NAB)
  • Standard Chartered Bank PLC
  • Sumitomo Mitsui Banking Corporation (SMBC)

State-owned Commercial Banks

  • Bank of China (BOC)

Receiving agencies

Private Sector

  • Trafigura Group Pte. Ltd.

Loan description

Boc and ICBC contribute to USD 1.76 billion syndicated multi-tranche lending facility to Trafigura Pte Ltd for debt refinancing and general corporate purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On October 9, 2013, a group of 38 banks -- including ICBC and Bank of China -- signed a USD 1.76 billion syndicated multi-tranche revolving credit facility and term loan facility with Trafigura Pte. Ltd. The facility marks a renewal of Trafigura's previous lending facility, including the refinancing of the maturing USD 1.025 billion tranche of Trafigura's 2012 facility (captured via Record ID#98404). Proceeds will be used for general corporate purposes. The facility is comprised of four tranches: a 364-day revolving credit facility, a three-year term loan, a five-year term loan, and a CNY-denominated tranche. The individual values of each of the tranches are unknown. BOC's contribution is captured via Record ID#98438. ICBC's contribution is captured here. ANZ Group, ICBC, Standard Chartered, DBS Bank, National Australia Bank, and Sumitomo Mitsui Banking Corporation served as original mandated lead arrangers and bookrunners. Bank of China joined as an original mandated lead arranger and bookrunner during syndication. Other members of the syndicate are unknown.

Staff comments

1. AidData is unable to ascertain the individual contributions made by each member of the syndicate to the facility, therefore equal contributions from each lender have been assumed (1.76/38). 2. AidData is unable to ascertain which tranches BOC and ICBC contributed to, therefore the average of the maturities (3 years) has been used in the creation of this project record.