Overview

Bank of China provides $65 million loan to HyalRoute Communication Group to support its Southeast Asia infrastructure operations

Commitments (Constant USD, 2023)$67,062,698

Commitment Year•2020Country of Activity•Asia, regionalDirect Recipient Country of Incorporation•SingaporeSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 4, 2020

Stakeholders

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

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Receiving agencies

Private Sector

HyalRoute Communication Group Limited

Guarantors

Joint Venture/Special Purpose Vehicles

Philippine Fiber Optic Cable Network Ltd. (PFOCN)

Loan description

Bank of China provides $65 million loan to HyalRoute Communication Group to support its Southeast Asia infrastructure operations

Interest type•Unknown

Narrative

Full Description

Project narrative

On June 4, 2020, Bank of China provided a $65 million corporate loan to HyalRoute Communication Group to support its Southeast Asia infrastructure operations. The loan proceeds were intended for general corporate purposes, with a repayment guarantee provided by HyalRoute's Philippine subsidiary, Philippine Fiber Optic Cable Network Ltd. (PFOCN). PFOCN is responsible for building and managing a national fiber-optic backbone across the Philippines.

Staff comments

1. HyalRoute Communication Group Limited is a Singapore-based company that is owned by HyalRoute Group, a Shenzhen-headquartered telecom infrastructure company. Philippine Fiber Optic Cable Network Ltd. (PFOCN or 律宾光纤通信网络有限公司) is a subsidiary of HyalRoute Communication Group Limited.