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Overview

Bank of China contributes to 705 million GBP syndicated credit facility for Covent Garden Group Holdings Limited

Commitments (Constant USD, 2023)$140,964,191
Commitment Year•2015Country of Activity•United KingdomDirect Recipient Country of Incorporation•United KingdomOverseas Jurisdiction•United KingdomSector•Other Social Infrastructure And ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 18, 2015

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

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Abbey National Treasury Services Plc (ANTS) (Santander Global Banking and Markets)
  • Barclays Bank PLC
  • BNP Paribas S.A.
  • Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
  • HSBC Bank PLC
  • Wells Fargo Bank N.A.

State-owned Banks

  • Royal Bank of Scotland (RBS)

Receiving agencies

Private Sector

  • Covent Garden Group Holdings Limited

Loan description

Bank of China contributes to 705 million GBP syndicated credit facility for Covent Garden Group Holdings Limited

Interest type•Unknown

Narrative

Full Description

Project narrative

On December 18, 2015, Covent Garden Group Holdings Limited was provided a £705 million revolving credit facility as borrower with HSBC Bank plc acting as agent and The Royal Bank of Scotland plc, BNP Paribas (London Branch), Barclays Bank plc, Crédit Agricole Corporate and Investment Bank, HSBC Bank plc, Bank of China Limited (London Branch), Wells Fargo N.A. (London Branch), and Abbey National Treasury Services Plc as original lenders. The loan details and purpose of the facility is unknown.

Staff comments

1. The size of the individual contribution of Bank of China to the lending syndicate is unknown. For the time being, AidData assumes equal contributions across all 8 members of the syndicate (GBP 88,125,000). 2. On 21 June 2016, Capco Covent Garden Limited novated its rights and obligations as borrower under the Covent Garden RCF to Covent Garden Group Holdings Limited (taken with its subsidiaries from time to time, the "Covent Garden Holdings Group").