Project ID: 38162

CDB provides $1 billion loan to América Móvil for Telecommunications Network Infrastructure Project and acquisition of Huawei equipment and services

Commitment amount

$ 1502010048.2747922

Adjusted commitment amount

$ 1502010048.27

Constant 2021 USD

Summary

Funding agency [Type]

China Development Bank (CDB) [State-owned Policy Bank]

Recipient

Mexico

Sector

Communications (Code: 220)

Flow type

Loan

Level of public liability

Private debt

Infrastructure

No

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2009-04-28

Description

According to a filing with the U.S. Securities and Exchange Commission (SEC), China Development Bank and América Móvil signed a $1 billion loan agreement on April 28, 2009 for a telecommunications network infrastructure project and for the purchase of telecommunications equipment and services from Huawei Technologies Co., Ltd.. CDB was the lender, sole lead arranger, and agent. The loan had a maturity of 10 years and an interest rate of 3-month LIBOR plus a 1% margin. The proceeds of the loan were to be used by the borrower to modernize and expand América Móvil's telecommunications network in Latin America.

Additional details

1. AidData has estimated the all-in interest rate by adding 1% to average 3-month LIBOR in April 2009 (1.133%).

Number of official sources

4

Number of total sources

12

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

América Móvil [Private Sector]

Implementing agencies [Type]

Huawei Technologies Co., Ltd. [Private Sector]

Loan Details

Maturity

10 years

Interest rate

2.133%

Grant element (OECD Grant-Equiv)

27.5792%

Bilateral loan

Export buyer's credit

Investment project loan