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CDB contributes to $73 million syndicated loan to finance the acquisition of 22 electric locomotives
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Joint Stock Company (JSC) Lokomotiv |
| Country | Kazakhstan |
| Start Date | May 25, 2012 |
| End Date | Nov 14, 2033 |
| Duration | 7,843 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 70741 |
Grant Description
China Development Bank contribution to USD 73 million syndicated loan to Joint Stock Company (JSC) Lokomotiv for refinancing purposes On May 25, 2012, JSC Lokomotiv -- a wholly-owned subsidiary of JSC National Company Kazakhstan Temir Zholy (Kazakhstan's state-owned railway company) -- entered into a $73,095,000 buyer's credit loan agreement with JSC SB HSBC Kazakhstan (jointly with HSBC Bank plc), Hong-Kong and Shanghai Banking Corporation (HSBC), and China Development Bank Corporation.
It was backed by a Sinosure credit insurance policy and guaranteed by JSC National Company Kazakhstan Temir Zholy and Kaztemirtrans.
The borrower was expected to use the loan proceeds to finance the purchase of 22 electric locomotives from CSR Chzhuchzhouskaya Electric Locomotive Company LLC. The loan fully disbursed on July 27, 2012.
Staff Comments
- For the time being, AidData has estimated CDB's contribution by assuming that CDB and HSBC contributed equal amounts ($36,547,500) to the loan syndicate.
- For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
Sources & References
- Application
- Application 3313
- JSC Lokomotiv
- Prospectus 2012/11/06, godovoy_otchet_2013
- KTZ Local Currency Loan, 'КТЖ – Пассажирские локомотивы' отозвали заявку на экспертизу цены
- IMPORTANT NOTICE 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
Joint Stock Company (JSC) Lokomotiv
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