Loading grant details…
ICBC participates in $749 million syndicated loan agreement with Grupo Energía Bogotá to help it repay bonded debt
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | Grupo Energía Bogota S.A. |
| Country | Colombia |
| Start Date | Dec 18, 2017 |
| End Date | Aug 28, 2030 |
| Duration | 4,636 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 105613 |
Grant Description
ICBC participates in USD 749 million syndicated loan agreement with Grupo Energía Bogotá for debt repayment On December 18, 2017, Grupo Energía Bogotá S.A.
E.S.P. (GEB) — a Colombian state-owned public services company engaged in the generation, transmission, distribution and commercialization of energy, including gas and combustible liquids in all their forms — signed a $749 million syndicated loan agreement with the following banks: Bank Of America, N.A., Citibank, N.A., Sumitomo Mitsui Banking Corporation, Bancolombia (Panama) S.A., Banco de Bogota S.A.
New York Agency, Mizuho Bank, ltda, The Bank of Nova Scotia, Banco Santander S.A., Natixis, Exporter Development Canada, Banco de Credito del Peru, Banco de Sabadell S.A. Miami, Intesa Sanpaolo S p.A.
New York Branch, Ing Capital LLC, JP Morgan Chase Bank N.A, The Bank of Tokyo Mitsubishi UFI Ltd, Industrial and Commercial Bank of China Limited, dubai (Difc) Branch, Banco de Credito e Inversiones SA Miami Branch, and Mercantil Bank, N.A.
The borrower was expected to use the proceeds of the loan to repay outstanding debt under an international bond that was issued through the Luxembourg Stock Exchange and that was scheduled to reach maturity in 2021.
Staff Comments
- Grupo Energía Bogota S.A. E.S.P. (GEB) is a leading owner, developer and operator of electricity and natural gas infrastructure assets across Latin America, with a presence in Colombia, Peru, Guatemala and Brazil. Pursuant to Agreement 01, 1996, the District of Bogotá is required to hold at least a 51% ownership stake in Grupo Energía Bogotá. A modification of this agreement requires certain regulatory approvals (including the municipal council’s authorization).
- The exact size of Bank of China’s contribution to the syndicate is unknown. For the time being, AidData assumes equal contributions ($39,421,052) across the 19 members of the syndicate. 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.
Sources & References
Estados Financieros Separados por los años terminados el 31 de diciembre de 2018 y 2017 e Informe del Revisor Fiscal 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
Grupo Energía Bogota S.A.
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
