What other banks are loaning money to the Dakota Access Pipeline?
The City of Seattle promised last month that it would stop banking with Wells Fargo, because the bank pledged hundreds of millions in loan money to build the Dakota Access Pipeline.
After we aired that report, several of you called asking what other banks are involved in paying for the pipeline.
The list of banks below includes the minimum amount they have loaned. We looked through Securities and Exchange filings, and those don’t always include the full amounts.
If you have official information that is not included here, please email iraftery@kuow.org.
We have included banks that loaned money in the last two years to the companies in charge of the pipeline — Energy Transfer and Sunoco Logistics Partners, which will merge this year. Although these banks did not directly loan money for the pipeline project, they are showing support of the companies that own the pipeline.
Please note that banks aren’t the only businesses that invest in energy projects. We've only listed financial institutions with ties to the pipeline and its parent companies.
Also, these are the banks we found with some stake in the Dakota Access Pipeline. There are many more energy projects out there, as you know, like the Keystone XL Pipeline and the Eastern Gulf Crude Access Pipeline.
The Dakota Access Pipeline kicked up mass protests at the Standing Rock Sioux Reservation, with thousands of people descending on the area despite the bitter cold.
Banks have responded to the controversy in different ways. For example, ING said it could not withdraw the loan agreement because “We have signed a contract, which is legally impossible to withdraw from.”
ING said it had met with leaders from the Standing Rock Sioux tribe last month.
Some banks that have given loans to Sunoco and Energy Transfer have denied the connection to the Dakota Access Pipeline.
PNC does not provide, and never has provided, project financing for the Dakota Access Pipeline. We understand that there is a specific, bank-provided project financing facility for the Dakota Access Pipeline, and we are not and have not been a participant in that financing.
But Securities and Exchange filings show that PNC put $100 million toward a revolving credit of $3.7 billion to Energy Transfer Partners in 2015.
TD Securities (USA)
Headquarters: Toronto, Canada
$130,000,000
Intesa Sanpaolo, New York Branch
Headquarters: Turin, Italy
$159,000,000
Community Trust Bank
Headquarters: Pikeville, Kentucky
$30,000,000
ING
Headquarters: New York City
$75,000,000
Citibank (lending agent; they wrangled the money from the other banks)
Headquarters: New York City
$221,250,000
Barclays Bank
Headquarters: London, U.K.
$305,000,000
Bank of Tokyo-Mitsubishi UFJ
Headquarters: Tokyo, Japan
$247,500,000
Mizuho Bank
Headquarters: Tokyo, Japan
$448,000,000
PNC Bank
Headquarters: Pittsburgh, Pennsylvania
$230,000,000
Wells Fargo Bank
Headquarters: San Francisco
$315,000,000
Bank of America
Headquarters: Charlotte, North Carolina
$315,000,000
Bank of Nova Scotia
Headquarters: Toronto, Canada
$100,000,000
BNP Paribas
Headquarters: Paris, France
$100,000,000
Compass Bank
Headquarters: Birmingham, Alabama
$275,000,000
Credit Suisse (including Cayman Islands branch)
Headquarters: Zurich, Switzerland
$275,000,000
DNB Capital
Oslo, Norway
$275,000,000
JPMorgan Chase Bank
Headquarters: New York City
$275,000,000
Royal Bank of Canada
Headquarters: Montreal, Canada
$275,000,000
Sumitomo Mitsui Bank
Headquarters: Tokyo, Japan
$200,000,000
SunTrust Bank
Headquarters: Atlanta, Georgia
$275,000,000
UBS, Stamford Branch
Headquarters: Basel, Switzerland
$275,000,000
US Bank
Headquarters: Minneapolis, Minnesota
$275,000,000
Citizens Bank
Headquarters: Providence, Rhode Island
$72,500,000.00
Comerica Bank
Headquarters: Dallas, Texas
$72,500,000
Goldman Sachs Bank
Headquarters: New York City
$72,500,000
Morgan Stanley / Morgan Stanley Senior Funding
Headquarters: New York City
$163,750,000
Deutsche Bank
Headquarters: Frankfurt, Germany
$210,000,000
Royal Bank of Scotland
Headquarters: Edinburgh, Scotland (U.K.)
$185,000,000
HSBC
Headquarters: London, U.K.
$159,000,000
Credit Agricole
Headquarters: Montrouge, France
$159,000,000
These banks have been noted by other agencies and journalists, but we couldn’t confirm directly with the pipeline or the Securities and Exchange Commission:
ABN Amro Capital
Natixis
BayernLB
ICBC London
Societe Generale
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Isolde Raftery
Online Managing Editor
Isolde Raftery has been the investigations editor at KUOW since 2022. Previously, she was the station's online managing editor.
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Paige Browning
Newscaster
Paige hosts midday newscasts and monitors news of significance to the Puget Sound region. She hopped over Washington’s mountains to join KUOW, after hosting news and reporting at Spokane Public Radio since 2011. She began her start in radio while a journalism student at University of Montana, by sharing stories with KUFM. Paige was raised in the mountains and rivers around Spokane. In her spare time she cheers on the Mariners in the summer, and hopes for snow in the winter.
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