Project ID: 66974

CDB provides $500 million export buyer's credit loan to MegaFon for purchase of Huawei equipment

Commitment amount

$ 553547615.7042441

Adjusted commitment amount

$ 553547615.7

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

Intent

Commercial (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

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2014-12-30

Geography

Description

In October 2014, China Development Bank (CDB) and MegaFon signed a financing mandate agreement for an export buyer's credit loan facility worth $500 million for the purchase of Huawei equipment and services. Then, on December 30, 2014, CDB and MegaFon signed the $500 million loan agreement. The loan carried a maturity of 7 years. Its interest rate and grace period are unknown. The borrower was expected to use the loan proceeds to develop Megafon's mobile network.

Additional details

1. This was the eighth deal between Megafon and CDB.

Number of official sources

6

Number of total sources

12

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

MegaFon [Private Sector]

Implementing agencies [Type]

Huawei Technologies Co., Ltd. [Private Sector]

MegaFon [Private Sector]

Loan Details

Maturity

7 years

Bilateral loan

Export buyer's credit

Investment project loan