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ICBC participates in $340 million syndicated loan to TDB for general corporate purposes in June 2016 (Linked to Record ID#92297, #92294, and #92298)
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | Eastern and Southern African Trade and Development Bank (TDB) |
| Country | Africa, regional |
| Start Date | Jun 27, 2016 |
| End Date | Mar 22, 2027 |
| Duration | 3,920 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 92296 |
Grant Description
China BoCom, China Eximbank, ICBC, and CCB contributions to a USD 340 million syndicated loan with TDB for general corporate purposes in June 2016 On June 27, 2016, the Southern African Trade and Development Bank (TDB) signed a $340 million syndicated loan facility agreement with a group of banks for general corporate purposes.
Participants in the lending syndicate included the Export-Import Bank of China, the Industrial and Commercial Bank of China (ICBC), Bank of Communications, China Construction Bank (CCB), and Standard Chartered Bank. This project captures ICBC's contribution. Record ID#92294 captures Bank of Communications' contribution.
Record ID#92298 captures CCB's contribution. Record ID#92297 captures China Eximbank's contribution.
Staff Comments
- This loan is not included in the Chinese Loans to Africa Database developed by SAIS-CARI and maintained by the Global Development Policy Center at Boston University.
- The Chinese government is the largest shareholder in Eastern and Southern African Trade and Development Bank (formerly known as PTA Bank), with a 9.3% shareholding.
- The precise size of the contributions of China Eximbank, ICBC, Bank of Communications, China Construction Bank to the loan syndicate are unknown. For the time being, AidData assumes equal contributions to the $340 million loan ($68 million) across the 5 known participants in 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.
- Some sources suggest that there were Indian, Korean, and Taiwanese lenders that participated in the loan syndicate. Another source claims that ‘[t]he deal was a three year bullet loan which targeted mainly Chinese lenders’. This issue warrants further investigation
Sources & References
- Euro Medium Term Note Programme
- Annual Report 2017
- COVER NOTE TO THE EURO MEDIUM TERM NOTE PROGRAMME OF TDB IN RELATION TO ITS SECONDARY LISTING ON THE OFFICIAL MARKET OF THE STOCK EXCHANGE OF MAURITIUS LTD
- TDB Bank Annual Report & Financial Statements 2016
- Eastern and Southern Africa Development Bank Base Prospectus dated February 28, 2017, the-trade-and-development-bank-signs-a-usd-350-million-export-credit-line-with-japan-bank-for-international-cooperation
- PTA picking leads for $320m loan refinancing
- PTA-Newsletter-quarter2-2016
- The good, the bad, and who knows what or where next! 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
Eastern and Southern African Trade and Development Bank (TDB)
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