Active Commercial AidData Chinese Aid

Bank of China participates in ZMW 340 billion syndicated bullet term loan to ZamBrew for general corporate purposes, to refinance certain existing bank facilities, and to support its capital expenditures program (Linked to Record ID#105854

$34M USD

Funder	Bank of China (BOC)
Recipient Organization	Zambian Breweries PLC (ZamBrew)
Country	Zambia
Start Date	Jun 01, 2010
End Date	Aug 24, 2030
Duration	7,389 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`105853`

Grant Description

BOC contributions to ZMW 400 billion syndicated loan to ZamBrew for general corporate purposes in 2010 In June 2010, Zambian Breweries PLC (ZamBrew) — a Zambia-incorporated special purpose vehicle that is majority-owned by SABMiller plc (86.5% equity stake) — signed a ZMW 400 billion loan agreement with a syndicate of banks for general corporate purposes, to refinance certain existing bank facilities, and to support its capital expenditures program.

Absa Capital (Barclays Capital), Citi and Standard Chartered served as joint bookrunners and mandated lead arrangers.

Access Bank Zambia, African Life Financial Services, Bank of China, First National Bank Zambia, Investrust Bank, Standard Bank and Zambia National Commercial Bank joined in syndication. The loan was increased from ZMW 300 billion during syndication.

The loan carried a maturity period of three years and consisted of two facilities: a ZMW 340 billion syndicated bullet term loan (captured by Record ID#105853) and a ZMW 60 billion syndicated revolving credit facility (captured by Record ID#105854).

It was backed by a repayment guarantee from SABMiller plc (an Anglo-South African multinational brewing and beverage company headquartered in Woking, England).

📋 Staff Comments

Standard Chartered Bank acted as agent bank, with Chibesakunda & Co. and Clifford Chance LLP acting as legal advisors to the bookrunners.
The precise monetary value of Bank of China’s contribution to the ZMW 340 billion syndicated bullet term loan is unknown. For the time being, AidData assumes equal contributions (ZMW 34 billion) across all ten members of the syndicate. This issue warrants further investigation

📚 Sources & References

ZamBrew and Vodacom Tz benefit from locals' strength
Consortium Raises SMK400 Bln For SABMiller's ZamBrew - I-Net
ZamBrew and Bodacom Tz benefit from locals' strength
Annual Report 2016
SABMiller Holdings Inc.
SABMiller's Zambian Unit Gets 400 Billion Kwacha Sydicated Loan 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.

All Grantees

Zambian Breweries PLC (ZamBrew)

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