Overview

ICBC provides a $400 million USD loan to Oryx Leasing for the purchase of four aircraft

Commitments (Constant USD, 2023)$514,455,389

Commitment Year•2010Country of Activity•QatarDirect Recipient Country of Incorporation•QatarOverseas Jurisdiction•QatarSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 16, 2010

Start (actual): Nov 16, 2010

End (actual): Nov 16, 2010

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)

Receiving agencies

State-owned companies

Oryx Leasing

Loan description

ICBC provides a $400 million USD loan to Oryx Leasing for the purchase of four aircraft

Interest type•Unknown

Narrative

Full Description

Project narrative

On November 16, 2010, the Industrial and Commercial Bank of China (ICBC) entered into a $400 million USD loan agreement with Oryx Leasing, the leasing arm of Qatar Airways, Qatar's state-owned air service provider. The details of the loan are unknown. ICBC (Middle East), ICBC's regional subsidiary, acted as arranger. The loan was financed by ICBC's branch office in Doha. The loan was used by Oryx Leasing to purchase three Boeing 777-300ER and one Boeing 777-200LR planes, which were subsequently leased by the subsidiary to its parent company, Qatar Airways. The aircraft were successfully delivered on November 16, 2010.