Overview

Bank of China provides RMB 560 million loan to SPIC Brasil Energia Participações S.A. for debt refinancing purposes (Linked to Record ID#60193)

Commitments (Constant USD, 2023)$79,091,085

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, 2024

Geospatial footprint

Map overview

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This project indirectly supported the São Simão Hydroelectric Power Plant located on the border between the states of Minas Gerais and Goiás, between the municipalities of São Simão (GO) and Santa Vitória (MG). More detailed location information can be found at https://www.openstreetmap.org/way/154030807, https://www.openstreetmap.org/way/338389123, https://www.openstreetmap.org/way/24611107, and https://www.openstreetmap.org/way/242505808.

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

Bank of China (BOC)

Receiving agencies

State-owned companies

SPIC Brasil Energia Participações S.A.

Loan desecription

Bank of China provides RMB 560 million loan to SPIC Brasil Energia Participações S.A. for debt refinancing purposes

Grant element•3.2205%Interest rate (t₀)•2.9%Interest type•Fixed Interest RateMaturity•1 years

Narrative

Full Description

Project narrative

On October 16, 2023, Bank of China and SPIC Brasil Energia Participações S.A. -- a Brazilian subsidiary of the State Power Investment Corporation of China (SPIC) -- signed an RMB 560 million loan agreement for debt refinancing purposes. The loan carries a 1 year maturity (final maturity date: October 15, 2024) and a 2.9% interest rate. The borrower is responsible for repaying the loan in one lump-sum upon maturity.

Staff comments

1. State Power Investment Corporation of China (SPIC) is a Chinese state-owned enterprise. It was the successor of China Power Investment Corporation after it was merged with the State Nuclear Power Technology Corporation (SNPTC) in 2015.