Skip to content
AidData logo

Overview

CDB provides $300 million buyer's credit facility agreement with Megafon for the purchase of Huawei equipment (Linked to Record ID#66936) (CDB V)

Commitments (Constant USD, 2023)$340,949,144
Commitment Year•2011Country of Activity•RussiaDirect Recipient Country of Incorporation•RussiaSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2011
Last repayment (originally scheduled)
Dec 31, 2015

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

CDB signs a buyer's credit facility agreement with Megafon, which headquarters is located at 41 Oruzheyniy lane, Moscow 127006, Russia. More detailed locational information can be found at https://www.openstreetmap.org/node/6193233295.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

Private Sector

  • MegaFon PJSC

Implementing agencies

Private Sector

  • Huawei Technologies Co., Ltd.
  • MegaFon PJSC

Loan desecription

CDB provides $300 million buyer's credit facility agreement with Megafon for the purchase of Huawei equipment

Interest rate (t₀)•2.85594%Interest type•Variable Interest RateMaturity•5 years

Narrative

Full Description

Project narrative

In January 2011, CDB signed two buyer's credit facility agreements with Megafon for the purchase of Huawei equipment -- a $200 million buyer's credit facility known as CDB IV (captured via Record ID#66936) and a $300 million buyer's credit facility known as CDB V (captured via Record ID#66953). The CDB V facility carried an interest rate of LIBOR plus a 2.4% margin and a 5 year maturity (final maturity date of April 28, 2016).

Staff comments

1. The average 6-month LIBOR in January 2011 was 0.455%, so the all-in interest rate has been calculated as 0.455 + 2.4 = 2.855%. 2. CDB has provided several loan facilities to MegaFon. See Record ID#66854 for the first CDB credit facility to Megafon, #66916 for CDB II, #66917 for CDB III, #66936 for CDB IV, #66939 for CDB VI, and #66954 for CDB VII.