CDB provides $462 million loan to finance the capital expenditures of the 2G, 3G and BWA services of Aircel and its 3 Indian subsidiaries
Commitment amount
$ 518491313.14547604
Adjusted commitment amount
$ 518491313.15
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
India
Sector
Communications (Code: 220)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
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.
Additional details
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.
Number of official sources
3
Number of total sources
4
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Swedish Export Credit Corporation (SEK) [State-owned Company]
Nordic Investment Bank [Intergovernmental Organization]
Direct receiving agencies [Type]
Aircel Ltd. [Private Sector]
Implementing agencies [Type]
Aircel Ltd. [Private Sector]
Loan Details
Maturity
10 years