Overview

Bank of China provides a $170 million syndicated loan to the Naspers Ltd. in South Africa

Commitments (Constant USD, 2023)$171,070,370

Commitment Year•2018Country of Activity•South AfricaDirect Recipient Country of Incorporation•South AfricaSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 24, 2018

Last repayment (originally scheduled): Jul 23, 2023

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 Commercial Banks

Bank of China (BOC)

Receiving agencies

Private Sector

Naspers Ltd.

Loan description

Bank of China contributes to USD 170 million syndicated loan to the Naspers Ltd. in South Africa

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

On July 24, 2018, the Bank of China Chairman, Chen Siqing, signed a syndicated loan agreement with a South African company, Naspers Ltd. (NPSNY). The agreement stipulates that the Bank of China will provide a loan with a total amount of USD 170 million and with 5-year maturity to Naspers Ltd. The agreement signing ceremony was held in Pretoria, South Africa. This loan was one of the important projects signed by China and South Africa during President Xi Jinping's visit to South Africa starting from July 23, 2018. Naspers Ltd. is an e-commerce group company and one of the world's largest technology investors. They have a 31.2% stake in Tencent in China.