Loading…

Loading grant details…

Active Commercial AidData Chinese Aid

Industrial and Commercial Bank of China's London Branch contributes to a $1 billion loan facility to Standard Bank for general corporate purposes (Linked to Record ID#96766, #96767, #96768, #96770)

$55.56M USD

Funder ICBC (London) PLC
Recipient Organization Standard Bank of South Africa Limited (Standard Bank)
Country South Africa
Start Date Apr 19, 2016
End Date May 05, 2027
Duration 4,033 days
Number of Grantees 1
Roles Recipient
Data Source AidData Chinese Aid
Grant ID 96769
Grant Description

In 2016, Chinese Banks contribute to USD 1 billion loan facility to Standard Bank, South Africa On April 19, 2016, Standard Bank signed a $1 billion loan facility with an international syndicated of eighteen (18) lenders.

📋 Loan / Grant Terms
💰 Loan Amountincluded a three (3) year maturity date and an interest rate based on contemporary LIBOR (0

The loan was used for general corporate purposes including trade-related financing as well as infrastructure, power and mining-related lending transactions in Sub-Saharan Africa.

Five (5) Chinese banks contributed to the loan: Bank of China's (BOC) Johannesburg branch (captured in Record ID#96766), China Construction Bank's (CCB) Johannesburg branch (captured in Record ID#96767), Industrial and Commercial Bank of China's (ICBC) London branch (captured in Record ID#96769), ICBC (Asia) (captured in Record ID#96768), and Agricultural Bank of China's (ABC) DIFC branch (captured in Record ID#96770).

Mizuho Bank, Bank of China's (BOC) Johannesburg branch, Bayerische Landesbank, China Construction Bank's (CCB) Johannesburg branch, HSBC, ICBC's London branch, ICBC (Asia), and Standard Chartered acted as coordinators, bookrunners, and mandated lead arrangers. Agricultural Bank of China's (ABC) DIFC branch and Emirates NBD Bank acted as bookrunners and mandated lead arrangers.

Citibank's DFIC branch and Commerzbank's Luxembourg branch acted as mandated lead arrangers.

Bank of Taiwan, CTBC Bank, the Export-Import Bank of the Republic of China, Taiwan Shin Kong Commercial Bank, Taiwan Co-operative Bank, and the Bank of New York Mellon (BNY Mellon) acted as lead arrangers. Bayerische Landesbank was appointed as the facility agent.

📋 Staff Comments
  1. For the time being, AidData assumes equal contribution of all lenders. The value of the financing organization's loan ($55,555,555) was derived by dividing the total amount of funds loaned ($1,000,000,000) by the number of lenders in the syndicate (18).
  2. 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

Standard Bank secures jumbo facility 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

Standard Bank of South Africa Limited (Standard Bank)

Advertisement
Discover thousands of grant opportunities
Advertisement
Browse Grants on GrantFunds
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 Grant