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Overview

Bank of China contributes to USD 1.73 billion syndicated multi-tranche lending facility to Trafigura Beheer B.V. for debt refinancing and general corporate purposes in 2014 (linked to Record ID#98453)

Commitments (Constant USD, 2023)$61,179,552
Commitment Year•2014Country of Activity•NetherlandsDirect Recipient Country of Incorporation•NetherlandsSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Oct 3, 2014
Last repayment (originally scheduled)
Jun 2, 2016

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

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Australia and New Zealand Banking Group (ANZ)
  • CTBC Bank (formerly Chinatrust Commercial Bank)
  • DBS Bank Ltd.
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
  • Standard Chartered Bank PLC
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • United Overseas Bank Limited (UOB)

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

  • Trafigura Beheer BV

Loan description

ICBC and BOC contribute to USD 1.73 billion syndicated multi-tranche lending facility to Trafigura Beheer B.V. for debt refinancing and general corporate purposes

Interest type•UnknownMaturity•1.667 years

Narrative

Full Description

Project narrative

On October 3, 2014, a group of 29 banks -- including ICBC and Bank of China -- reached financial close on a USD 1.73 billion syndicate multi-tranche lending facility to Trafigura Beheer B.V. The facility consists of three tranches: a USD 1.08 billion 364-day revolving credit facility, a USD 435 million three-year term loan, and a USD 215 million-equivalent one-year RMB-denominated tranche. Proceeds from the facility will be used for general corporate purposes and to refinance maturing tranches from Trafigura's 2011 (captured via Record ID#97993, #97994) and 2013 facilities (captured via Record ID#98438, 98439). Information on interest rates is unknown. ICBC's contribution is captured via Record ID#98453. BOC's contribution is captured via Record ID#98455. A total of 29 banks participated in the facility. ANZ Group, DBS Bank, ICBC, Standard Chartered, UOB, OCBC, Bank of China and Sumitomo Mitsui Banking Corporation served as original mandated lead arrangers and bookrunners. ChinaTrust Bank Co and ICBC acted as bookrunners for the RMB-denominated tranche. The other participants in the syndicate are unknown.

Staff comments

1. AidData is unable to ascertain the individual contributions to the facility from each member of the syndicate, therefore equal contributions have been assumed (1.72/29). 2. AidData is unable to ascertain whether the tranches to which the two Chinese banks contributed, therefore the average maturity of the three tranches has been used in the creation of this project record.