Loading grant details…
CDB participates in $260 million syndicated loan tranche to TDB for debt refinancing purposes in October 2018 (Linked to Record ID#59435, #92299, #92301, #66947, and #92305)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Eastern and Southern African Trade and Development Bank (TDB) |
| Country | Africa, regional |
| Start Date | Oct 02, 2018 |
| End Date | Aug 19, 2032 |
| Duration | 5,070 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 92306 |
Grant Description
ICBC, BOC, and CDB contributions to $460 million syndicated loan to TDB for debt refinancing purposes in October 2018 On October 2, 2018, the Southern African Trade and Development Bank (DBD) signed a $460 million syndicated loan facility agreement with a group of banks for debt refinancing purposes.
CDB's contribution to the $200 million loan tranche is captured by Record ID#92301. ICBC's contribution to the $200 million loan tranche is captured via Record ID#59435. BOC's contribution to the $200 million loan tranche is captured via Record ID#92299. This project captures CDBs contribution to the $260 million loan tranche.
ICBC's contribution to the $260 million loan tranche is captured via Record ID#66947. BOC's contribution to the $260 million loan tranche is captured via Record ID#92305.
Participants in the lending syndicate included Citigroup, Commerzbank, Emirates NBD, First Abu Dhabi Bank, Industrial & Commercial Bank of China, Mashreqbank, Mizuho, MUFG, Standard Chartered, Sumitomo Mitsui Financial Group, Bank of China, and China Development Bank. Standard Chartered acted as Documentation Agent and Citigroup acted as Facility Agent.
The proceeds of the loan were to be used by the borrower to refinance a $400 million syndicated term loan that TDB contracted on October 5, 2016 (see Record ID#91931).
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 ICBC, Bank of China, and China Development Bank to the loan syndicate are unknown. For the time being, AidData assumes equal contributions to the $260 million loan tranche ($21,666,666) and the $200 million loan tranche ($16,666,666) across the 12 known participants in the loan syndicate.
- For the time being, AidData assumes that all lenders participated in both tranches. This issue warrants further investigation.
- For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details. This applies to both tranches.
Sources & References
- TDB SIGNS A US$ 460 MILLION DUAL TRANCHE SYNDICATED TERM LOAN FACILITY
- EASTERN AND SOUTHERN AFRICAN TRADE AND DEVELOPMENT BANK
- TDB signs US$450m multi tranche syndicated term financing
- Euro Medium Term Note Programme
- Trade & Development Bank (TDB) - Syndicated Loan
- TDB Signs a US$ 460 Million Dual Tranche Syndicated Term Loan Facility
- 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
- Annual Report 2017
- Global Capital Syndicated Loan and Leveraged Finance Awards 2018: the winners 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)
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
