China Development Bank provides USD $31 million to finance Millicom’s equipment purchases from Huawei
Commitment amount
$ 55777195.869407095
Adjusted commitment amount
$ 55777195.87
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Chad
Sector
Communications (Code: 220)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
No
Category
Project lifecycle
Description
In May 2007, Millicom Tchad S.A. — Millicom’s local affiliate in Chad — signed a $31 million loan agreement with China Development Bank to finance its equipment purchases from Huawei. This loan carried the following terms: an interest rate of LIBOR plus a 2% margin, a maturity of 5 years, and no grace period. The loan was 100% guaranteed by Millicom. Its (principal) amount outstanding was $21 million as of December 31, 2010, $7 million as of December 31, 2011, and $1 million as of December 31, 2012. The loan was repaid in full in January 2013.
Additional details
1. AidData has estimated the loan’s all-in interest rate by adding 2% to 5.312% [May 2007 average USD LIBOR].” Add this source: https://www.millicom.com/media/1886/offering-memo-2020.pdf
Number of official sources
4
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Millicom Tchad S.A. [Private Sector]
Implementing agencies [Type]
Huawei Technologies Co., Ltd. [Private Sector]
Guarantee provider [Type]
Millicom, Inc. [Private Sector]
Loan Details
Maturity
5 years
Interest rate
7.312%
Grace period
0 years
Grant element (OECD Grant-Equiv)
5.0953%