Overview

BOCOM provides RMB 1 billion loan to UHE São Simão Energia S.A. for debt refinancing purposes (Linked to Record ID#60193)

Commitments (Constant USD, 2023)$141,234,081

Commitment Year•2023Country of Activity•BrazilDirect Recipient Country of Incorporation•BrazilSector•EnergyFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Oct 16, 2023

Last repayment (originally scheduled): Oct 15, 2026

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% Chinese ownership

Funding agencies

State-owned Commercial Banks

China Bank of Communications (BoCom or BoComm)

Receiving agencies

Joint Venture/Special Purpose Vehicles

UHE São Simão Energia S.A.

Loan description

BOCOM provides RMB 1 billion loan to UHE São Simão Energia S.A. for debt refinancing purposes

Grant element•8.5572%Interest rate (t₀)•3.3%Interest type•Fixed Interest RateMaturity•3 years

Narrative

Full Description

Project narrative

On October 16, 2023, Bank of Communications (BOCOM) and UHE São Simão Energia S.A. -- a special purpose vehicle and joint venture that is majority-owned by SPIC Brasil Energia Participações S.A. [51% equity stake] -- signed an RMB 1 billion loan agreement for debt refinancing purposes. The loan carries a 3-year maturity (final maturity date: October 17, 2016) and a 3.3% interest rate. The borrower is responsible for repaying the loan in semi-annual installments. UHE São Simão Energia S.A. is responsible for the São Simão Hydroelectric Power Plant, which is located on the border between the states of Minas Gerais and Goiás, between the municipalities of São Simão (GO) and Santa Vitória (MG).