Overview

China Construction Branch provides £60 million GBP revolving credit facility to FirstGroup plc for unspecified purposes

Commitments (Constant USD, 2023)$79,178,849

Commitment Year•2019Country of Activity•United KingdomDirect Recipient Country of Incorporation•United KingdomOverseas Jurisdiction•United KingdomSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Oct 11, 2019

Last repayment (originally scheduled): Oct 10, 2022

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

China Construction Bank Corporation (CCB)

Receiving agencies

Private Sector

FirstGroup plc

Loan description

China Construction Branch provides £60 million GBP revolving credit facility to FirstGroup plc for unspecified purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On October 11, 2019, the London Branch of the China Construction Bank signed a £60 million GBP bilateral revolving credit facility (RCF) agreement with FirstGroup plc — a British multi-national transport group providing bus, coach, rail, and term services based in Aberdeen, Scotland and listed on the London Stock Exchange — for unspecified purposes. This RCF carried a maturity period of three years. The loan was fully repaid on July 15, 2021.