Skip to content
AidData logo

Overview

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

Commitments (Constant USD, 2023)$1,387,317,770
Commitment Year•2009Country of Activity•MexicoDirect Recipient Country of Incorporation•MexicoSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Apr 28, 2009
Last repayment
Apr 26, 2019

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 Policy Banks

  • China Development Bank (CDB)

Receiving agencies

Private Sector

  • América Móvil, S.A.B. de C.V. (America Movil)

Implementing agencies

Private Sector

  • Huawei Technologies Co., Ltd.

Loan desecription

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

Grant element•27.9176%Interest rate (t₀)•2.03938%Interest type•Variable Interest RateLoan tenor•3-month rateMaturity•10 years

Narrative

Full Description

Project narrative

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.

Staff comments

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