Overview

CDB provides $462 million loan to finance the capital expenditures of the 2G, 3G and BWA services of Aircel and its 3 Indian subsidiaries

Commitments (Constant USD, 2023)$483,343,652

Commitment Year•2015Country of Activity•IndiaDirect Recipient Country of Incorporation•IndiaSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 27, 2015

Last repayment: Mar 24, 2025

Geospatial footprint

Map overview

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CDB provided a loan to finance the capital expenditures of the 2G, 3G and BWA services of Aircel and its 3 Indian subsidiaries. More detailed locational information can be found at: https://www.openstreetmap.org/relation/3577685

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)

Cofinancing agencies

Intergovernmental Organizations

Nordic Investment Bank

State-owned companies

Swedish Export Credit Corporation (SEK)

Receiving agencies

Private Sector

Aircel Ltd.

Implementing agencies

Private Sector

Aircel Ltd.

Loan desecription

China Development Bank contribution to USD 651 million syndicated debt financing package with Aircel Ltd.

Interest type•UnknownMaturity•10 years

Narrative

Full Description

Project narrative

On March 27, 2015, China Development Bank signed a $462 million loan (facility) agreement with Aircel Ltd. to finance the capital expenditures of the 2G, 3G and BWA services of Aircel Ltd. and its three subsidiaries in India. The loan carried a maturity of 10 years and it was part of a $651 million syndicated debt financing package from SEK and the Nordic Investment Bank.

Staff comments

1. One source (https://www.goodwinlaw.com/professionals/z/zeng-shuwen) refers $700 million of term loan facilities from CDB to Aircel Group. This issue warrants further investigation.