Overview

Industrial and Commercial Bank of China (Asia) contributes to a £235 million GBP syndicated loan to Excel Winners UK for purposes related to real estate properties

Commitment Year•2018Country of Activity•United KingdomDirect Recipient Country of Incorporation•United KingdomOverseas Jurisdiction•Hong Kong (China)Sector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 30, 2018

Geospatial footprint

Map overview

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The proceeds were to be for unknown purposes related to the borrower's owned estates, consisting of freehold land lying to the south of Nine Elms Lane in London More detailed locational information can be found at https://www.openstreetmap.org/way/1234373222

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 (Asia) Limited (ICBC (Asia))

Receiving agencies

Private Sector

Excel Winner UK Limited

Security / collateral agents

State-owned Commercial Banks

Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia))

Loan description

Industrial and Commercial Bank of China (Asia) participates in GBP 235 million loan to Excel Winners UK for purposes related to real estate properties

Interest type•Unknown

Collateral

The loan is likely collateralized over the properties being financed.

Narrative

Full Description

Project narrative

On July 30, 2018, the Industrial and Commercial Bank of China (Asia) (ICBC (Asia)), a subsidiary of the Industrial and Commercial Bank of China (ICBC), participated in and acted as security trustee for a £235 million GBP loan to Excel Winners UK for unknown purposes related to the company's owned estates, consisting of freehold land lying to the south of Nine Elms Lane in London. Other details of the loan, including the further composition, if any, of the lending syndicate, are currently unknown.

Staff comments

1. AidData is not applying the equal contribution assumption as the total number of lenders is currently unknown.