Overview

Bank of China extends and increases 200 million EUR credit facility agreement with Redes Energéticas Nacionais (REN) (Linked to Record ID#102004)

Commitments (Constant USD, 2023)$301,577,888

Commitment Year•2016Country of Activity•PortugalDirect Recipient Country of Incorporation•PortugalSector•EnergyFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 16, 2016

Last repayment (originally scheduled): Jun 15, 2021

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Receiving agencies

Private Sector

Redes Energéticas Nacionais, SGPS, S.A. (REN)

Loan description

Bank of China extends and increases 200 million EUR credit facility agreement with Redes Energéticas Nacionais (REN)

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

On April 1, 2014, the Bank of China signed a 200 million EUR credit facility agreement with Redes Energéticas Nacionais (REN) for debt refinancing and general corporate purposes (captured via Record ID#102004). The facility carried a maturity of 5 years. On June 16, 2016, the facility was extended until 2021 and was increased to 250 million EUR (captured via Record ID#102005).