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Overview

ICBC contributes to USD 1.5 billion multi-tranche syndicated lending facility to Trafigura Pte. Ltd. for debt refinancing and general corporate purposes in 2019 (linked to Record ID#98499)

Commitments (Constant USD, 2023)$57,665,972
Commitment Year•2019Country 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 7, 2019
Last repayment (originally scheduled)
Jun 6, 2021

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

  • CTBC Bank (formerly Chinatrust Commercial Bank)
  • DBS Bank Ltd.
  • Standard Chartered Bank PLC
  • Sumitomo Mitsui Banking Corporation (SMBC)

State-owned Commercial Banks

  • China Construction Bank Corporation (CCB)

Receiving agencies

Private Sector

  • Trafigura Group Pte. Ltd.

Loan description

ICBC and CCB contribute to USD 1.5 billion multi-tranche syndicated lending facility to Trafigura Pte. Ltd. for debt refinancing and general corporate purposes

Interest type•UnknownMaturity•1.667 years

Narrative

Full Description

Project narrative

On October 7, 2019, a group of 27 banks -- including ICBC and China Construction Bank -- reached financial close on a USD 1.5 billion multi-tranche syndicate lending facility with Trafigura Pte. Ltd. The facility consists of three tranches: a USD 760 million 365-day revolving credit facility, a USD 445 million RMB-denominated 1-year term loan, and a USD 300 million 3-year term loan. Other lending details are unclear. Proceeds from the facility will be used for general corporate purposes and to refinance the maturing 3-year tranche of Trafigura's 2016 RCF (captured via Record ID#98467, 98468, 98469, 98470) and the maturing 1-year tranches of Trafigura's 2018 RCF (captured via Record ID#98476, 98477, 98478). The facility marks a continuation of Trafigura's annual Asian RCF and term loan facilities. ICBC's contribution is captured via Record ID#98498. China Construction Bank's contribution is captured via Record ID#98499. A total of 27 banks contributed to the facility. DBS, ICBC, Standard Chartered, SMBC, China Construction Bank, and CTBC Bank served as mandated lead arrangers and bookrunners. The other members of the syndicate are unknown.

Staff comments

1. AidData is unable to ascertain the individual contributions made to the facility by each member of the syndicate, therefore equal contributions from each lender have been assumed. 2. AidData is unable to ascertain 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.