CDB provides RMB 700 million export seller's credit to VimpelCom to facilitate acquisition of Huawei equipment
Commitment amount
$ 124987758.98506851
Adjusted commitment amount
$ 124987758.99
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Russia
Sector
Communications (Code: 220)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
On December 24, 2015, CDB signed an export seller's credit agreement worth RMB 700 million ($108 million) with VimpelCom Holdings (Beeline trademark) — a Russian telecommunications company — to finance the purchase of Huawei equipment. The facility has interest rate of 5.71% and has an availability period of two years with a total tenor (maturity) of five years. The final maturity date of the loan is December 21, 2020. As of December 31, 2017, VimpelCom had utilized RMB 149 million of the facility.
Additional details
Number of official sources
3
Number of total sources
5
Details
Cofinanced
No
Direct receiving agencies [Type]
VimpelCom (PJSC VimpelCom) [Private Sector]
Indirect receiving agencies [Type]
Huawei Technologies Co., Ltd. [Private Sector]
Implementing agencies [Type]
Huawei Technologies Co., Ltd. [Private Sector]
Loan Details
Maturity
5 years
Interest rate
5.71%
Grant element (OECD Grant-Equiv)
8.4273%