CDB provides $200 million buyer's credit facility with MegaFon for the purchase of Huawei equipment (Linked with Project #66953) (CDB IV)

In January 2011, CDB signed two buyer's credit facility agreements with Megafon for the purchase of Huawei equipment, known as CDB IV (200 million USD) and CDB V (300 million USD, recorded in project #66953). This project captures the 200 million USD CDB IV facility. The facility has an interest rate of LIBOR + 2.4%. The average 6-month LIBOR in January 2011 was 0.455%, so the interest rate has been calculated as 0.455 + 2.4 = 2.855%. CDB IV has a maturity date of 21 January 2016. CDB IV requires semi-annual payments starting on January 2013 until January 2016, with 77.5% of the principal amount not being due until the final year. The CDB V loan facility could not be accessed until either the USD 200 million facility was fully drawn down or until January 2012, whichever came first.

Additional details

1. CDB has provided several loan facilities to MegaFon. See project ID #66854 for the first CDB credit facility to Megafon, #66916 for CDB II, #66917 for CDB III, #66953 for CDB V, #66939 for CDB VI, and #66954 for CDB VII.

Number of official sources

3

Number of total sources

3