ICBC contributes 10 million USD to pre-export financing for Premium Tobacco International

$10M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	Premium Tobacco Internationa lDMCC (“PTID”)
Country	Malawi
Start Date	May 01, 2008
End Date	Oct 11, 2033
Duration	9,294 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`104755`

Grant Description

ICBC contributions to $54.5 million syndicated loan for Premium Tobacco International In May 2008, Premium Tobacco International signed a 54.5 million USD syndicated pre-export financing. Standard Bank was the bookrunner and mandated lead arranger on the deal.

Standard Bank committed $10m to the loan, while Natixis joined as an arranger with a commitment of $12m, and Industrial and Commercial Bank of China and Nedbank were also arrangers but joined on tickets of $10m. ING contributed $7.5m as a co-arranger, and Ghana International Bank committed $5m as a lead manager.

Proceeds will go to Premium Tama Tobacco Limited, the group's main sales and financing vehicle for its Malawi operations.

📚 Sources & References

African syndicated loans - news in brief
May23, 2008 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.