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Overview

ICBC contributes to AR $275 million syndicated loan to CNH Argentina S.A. for repayment of short-term debts and working capital

Commitments (Constant USD, 2023)$4,961,340
Commitment Year•2014Country of Activity•ArgentinaDirect Recipient Country of Incorporation•ArgentinaOverseas Jurisdiction•ArgentinaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2014

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

  • Industrial and Commercial Bank of China (Argentina) Limited (ICBC (Argentina))

Cofinancing agencies

Private Sector

  • Banco de Galicia y Buenos Aires S.A.
  • Banco de San Juan S.A. (Banco San Juan)
  • Banco Hipotecario SA
  • Banco Patagonia S.A.

State-owned Banks

  • Banco de la Ciudad de Buenos Aires (CDAD. DE BS. AS.)
  • Banco de la Pampa Sociedad de Economía Mixta
  • Banco de la Provincia de Córdoba S.A

Receiving agencies

Private Sector

  • CNH Argentina S.A.

Loan description

ICBC contribution to ARS $275 million syndicated loan to CNH Argentina S.A. for repayment of short-term debts and working capital

Interest type•Unknown

Narrative

Full Description

Project narrative

In January 2014, CNH Argentina S.A. signed a AR $275,000,000 syndicated loan agreement with seven Argentinian banks to finance the repayment of short-term debts and working capital. Arrangers for the loan included Banco de Galicia y Buenos Aires S.A. (acting as arranger administrative agent and lender), and Banco Patagonia S.A., as co-arranger and lender. The legal advisor for the transaction was Estudio Beccar Varela.

Staff comments

1. The Estudio Beccar Valera Advising team was led by Finance Partner Maximiliano D’Auro, with participation of senior associate Carolina Serra and associate Gonzalo J.Ochoa. 2. ICBC Argentina’s specific contribution is unknown. To estimate it, AidData has assumed each lender contributed equally (AR$39,285,714.2857) to the AR$275,000,000 loan.