Overview

ICBC provides a $120 million USD loan to Scottish Mortgage Investment Trust for unspecified purposes

Commitments (Constant USD, 2023)$110,656,996

Commitment Year•2021Country of Activity•United KingdomDirect Recipient Country of Incorporation•United KingdomSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Oct 12, 2021

Last repayment (originally scheduled): Oct 12, 2024

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

Private Sector

Scottish Mortgage Investment Trust PLC

Loan description

ICBC provides a $120 million USD loan to Scottish Mortgage Investment Trust for unspecified purposes

Interest rate (t₀)•1.588%Interest type•Fixed Interest RateMaturity•3 years

Narrative

Full Description

Project narrative

On October 12, 2021, the Industrial and Commercial Bank of China (ICBC) issued a $120 million USD revolving loan agreement to Scottish Mortgage Investment Trust PLC — a United Kingdom-based investment trust — for unspecified purposes. This loan carried a maturity period of three years, a final maturity date of October 12, 2024, and an interest rate of 1.588% per annum. The loan was repaid between April 1, 2022 and September 30, 2022.