Agricultural Bank of China contributes to $1.5 billion syndicated loan to Gazprom in August 2015 (Linked to Project ID#52635, #98801)

In August 2015, a syndicate of 3 Chinese banks (Bank of China, Agricultural Bank of China, and the Beijing Branch of China Construction Bank Corporation) and Gazprom — a Russian state-owned energy corporation — signed a $1.5 billion syndicated loan facility agreement. The loan carried the following terms: a 5-year maturity and an annual interest rate of LIBOR plus a 3.5% margin. The average 6-month LIBOR rate in August 2015 was 0.519%, so the all-in interest rate has been calculated as 0.519% + 3.5% = 4.019%. The purpose of the loan is not stated in any official documentation. AidData estimates that BOC contributed $500,000,000 (captured via Project ID#98801), that Agricultural Bank of China contributed $500,000,000 (captured in Project iD#98802), and that CCB also contributed $500,000,000 (captured via Project ID#52635) to this syndicated loan.

Additional details

1. This project is status-coded as in implementation because Gazprom’s financial reports suggest that the loan has disbursed. 2. The exact size of CCB, Bank of China, and ABC's respective financial contributions to the $1.5 billion syndicated loan are unknown. For the time being, AidData assumes that all three members of the lending syndicate contributed equal amounts ($500,000,000).

Number of official sources

5

Number of total sources

7