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Overview

Bank of China contributes to USD $343 million syndicated loan tranche to help Denmark’s Bunker Holding refinance prior facility (Linked to Record ID#99325 and #99327)

Commitments (Constant USD, 2023)$29,669,142
Commitment Year•2019Country of Activity•DenmarkDirect Recipient Country of Incorporation•DenmarkSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2019

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

  • Deutsche Bank AG
  • DZ Bank AG
  • HSBC Bank A.S.
  • Jyske Bank A/S
  • Nordea Bank Abp
  • Skandinaviska Enskilda Banken AB (SEB)
  • UBS Group AG

State-owned Banks

  • Hamburg Commercial Bank (HSOB) (Formerly HSH Nordbank AG)
  • KfW IPEX-Bank GmbH
  • Landesbank Baden-Württemberg (LBBW)
  • Norddeutsche Landesbank Girozentrale (NORD/LB)

Receiving agencies

Private Sector

  • Bunker Holding

Loan description

Bank of China contributes to Syndicated Loan to Denmark’s Bunker Holding for refinancing

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2019, Denmark’s Bunker Holding signed a multi-tranche revolving credit facility totaling USD $1 billion. The loan was split between three tranches: a USD $343 million one year tranche, a USD $100 million two year tranche and a USD $557 million three year tranche. A total of 12 banks contributed to the syndicated loan. Deutsche Bank and Nordea were bookrunners, with the German bank acting as the facility agent. The lenders were joined by mandated lead arrangers DZ Bank, Jyske Bank, LBBW and NordLb. Bank of China, HSBC, Hamburg Commercial Bank, KfW, SEB and UBS joined as participants. The loan will be used to refinance a USD $650 million facility signed in 2015 that was initially due to mature in 2018. Deutsche Bank and Nordea were the lead banks on the original facility. Bank of China’s contribution to the USD $100 million tranche is captured in Record ID#99325. Bank of China’s contribution to the USD $557 million tranche is captured in Record ID#99327.

Staff comments

1. The exact size of Bank of China’s contribution to the USD $343 million tranche is unknown. For the time being, AidData assumes that all 12 members of the lending syndicate, including Bank of China, contributed equally. The total value of this tranche is USD $343 million, with each lender contributing an estimated USD $28,583,333.33 (USD $343,000,000 / 12 known contributors = USD $28,583,333.33).