Overview

China Eximbank contributes to $170 million loan facility to Clipper Group A/S to finance two VLCC vessels

Commitments (Constant USD, 2023)$117,922,010

Commitment Year•2009Country of Activity•DenmarkDirect Recipient Country of Incorporation•DenmarkSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2009

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 Policy Banks

Export-Import Bank of China (China Eximbank)

Cofinancing agencies

Private Sector

DVB Bank

Receiving agencies

Private Sector

Clipper Group A/S

Loan description

China Eximbank contributes to USD $170 million syndicated loan facility to Clipper Group A/S to finance the acquisition of two VLCC vessels in Denmark in 2009

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2009, the Export-Import Bank of China (China Eximbank) contributed an estimated $85 million to a $170 million loan facility to Clipper Group A/S to finance two very large crude carrier (VLCC) vessels. China Eximbank and DVB Bank acted as co-arrangers on the loan. Other financial details are currently unknown.

Staff comments

1. AidData is currently estimating each contribution by Chinese state-owned entities ($85 million) by dividing the total amount of financing ($170 million) by the number of known lenders (2).