Project ID: 58639

ZTE loans USD 7.407 million to Cell C for unspecified purposes

Commitment amount

$ 8746218.993411167

Adjusted commitment amount

$ 8746218.99

Constant 2021 USD

Summary

Funding agency [Type]

ZTE Corporation [State-owned Company]

Recipient

South Africa

Sector

Communications (Code: 220)

Flow type

Loan

Level of public liability

Private debt

Infrastructure

No

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Implementation (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2016-01-01

Description

In 2016, Chinese telecommunications company ZTE loaned USD 7.407 million through bridge vendor financing to Cell C, a South African telecommunications company, for unspecified purposes. The financing had an interest rate of six-month Libor + 3.5%(1.058% + 3.5%=4.558%) and a contractual interest rate of 6.4%, accrued monthly and settled biannually. As of May 31, 2019, the outstanding loan amount was USD 151,000. The loan is set to expire on October 13, 2021.

Additional details

Number of official sources

1

Number of total sources

2

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Cell C Limited South Africa [Private Sector]

Loan Details

Maturity

5 years

Interest rate

4.558%

Grant element (OECD Grant-Equiv)

10.8234%

Bilateral loan