Completed Commercial AidData Chinese Aid

China Eximbank provides M&A loan to facilitate Guangken Rubber's acquisition of Thai Hua Rubber Public Limited

¥840K RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Guangken Rubber Group Ltd.
Country	Thailand
Start Date	Aug 01, 2016
End Date	Jun 09, 2032
Duration	5,791 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`73545`

Grant Description

China Eximbank provides M&A loan to facilitate Guangken Rubber's acquisition of Thai Hua Rubber Public Limited In August 2016, Guangken Rubber acquired a 60% equity stake in Thai Hua Rubber Public Limited, which is headquartered in Bangkok, for RMB 1.2 billion. The Guangdong Branch of China Eximbank provided an M&A loan to Guangken Rubber (Trang) Co.

Ltd. to finance the acquisition from a PSL special fund.

📋 Staff Comments

The acquisition is referred to as 广垦橡胶并购泰华项目 in Chinese.
The face value of the China Eximbank loan is unknown. However, given that the total cost of the acquisition was RMB 1.2 billion and most China Eximbank M&A (overseas investment) loans cover at least 70% of the total cost of the acquisition, AidData assumes for the time being that the face value of the China Eximbank loan was roughly equivalent to RMB 840 million. This issue warrants further investigation. See slide 13 of https://www.dropbox.com/scl/fi/l59pewju61dhll79k8msy/2.EXIM-Bank.pptx?rlkey=4ffouewoknm33jnz3dykii2i4&dl=0 for more information on the standard terms and conditions that govern M&A (overseas investment) loans from China Eximbank.

📚 Sources & References

广东省分行
进出口银行广东省分行助力广垦橡胶畅行“一带一路”
Guangken to list Thai rubber producer
融资加融智服务全方位进出口银行广东省分行支持企业“一带一路”项目
进出口银行广东省分行助力广垦橡胶畅行“一带一路”, 22粤垦02:广东省农垦集团公司2022年面向专业投资者公开发行公司债券(第二期)募集说明书摘要 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.