Overview

ICBC provides a £100 million GBP loan to RIT Capital Partners plc for unspecified purposes

Commitments (Constant USD, 2023)$116,656,683

Commitment Year•2022Country of Activity•United KingdomDirect Recipient Country of Incorporation•United KingdomSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 1, 2022

Last repayment (originally scheduled): Nov 30, 2025

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

RIT Capital Partners plc

Loan description

ICBC provides a £100 million GBP loan to RIT Capital Partners plc for unspecified purposes

Interest type•Variable Interest RateMaturity•3 years

Narrative

Full Description

Project narrative

In December 2022, RIT Capital Partners plc and the Industrial and Commercial Bank of China agreed to a £100 million three-year term revolving credit facility (RCF). It carried a variable interest rate. The loan details and purpose of this loan is unknown.

Staff comments

1. This loan had an interest rate based on either LIBOR or SONIA plus an unspecified marign.