CDB provides $1 billion loan to América Móvil for Telecommunications Network Infrastructure Project and acquisition of Huawei equipment and services
Constant 2017 USD
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Communications (Code: 220)
Export Buyer's Credit
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 2.133%. The proceeds of the loan were to be used by the borrower to modernize and expand América Móvil's telecommunications network in Latin America.
14 APRIL 2009 Interest rate is listed as Libor plus 100 basis points. Coder took the 3 month April 2009 average libor rate, 1.133%, and added 100 bps (or 1%).
Number of official sources
Number of unofficial sources
Receiving agencies [Type]
América Móvil [Private Sector]
Implementing agencies [Type]
Huawei Technologies Co., Ltd. [Other]