Overview

ICBC (London) provides GBP 32 million secured loan to Tansor (Cornbow) for unknown purposes related to owned properties

Commitments (Constant USD, 2023)$43,868,478

Commitment Year•2017Country of Activity•United KingdomDirect Recipient Country of Incorporation•United KingdomOverseas Jurisdiction•United KingdomSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Sep 29, 2017

Last repayment (originally scheduled): Sep 29, 2017

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

ICBC (London) PLC

Receiving agencies

Private Sector

LXI Cornbow Limited (formerly Tansor (Cornbow))

Loan description

ICBC (London) provides GBP 32 million secured loan to Tansor (Cornbow) for unknown purposes related to owned properties

Interest rate (t₀)•2.64141%Interest type•Variable Interest Rate

Narrative

Full Description

Project narrative

On September 29, 2017, the ICBC (London), the Industrial and Commercial Bank of China's (ICBC) British subsidiary, provided a GBP 32 million secured loan to Tansor (Cornbow) for unknown purposes related to the Cornbown Shopping Centre in Halesown, West Midlands, a freehold property. The loan had a variable interest rate of 2.64141% on December 31, 2017. Other financial details about the loan are currently unknown. The loan was satisfied on May 11, 2022.