Project ID: 88527

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

Commitment amount

$ 185274457.13937503

Adjusted commitment amount

$ 185274457.14

Constant 2021 USD

Summary

Funding agency [Type]

Bank of China (BOC) [State-owned Commercial Bank]

Recipient

South Africa

Sector

Communications (Code: 220)

Flow type

Loan

Level of public liability

Private debt

Infrastructure

No

Category

Intent

Mixed (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

2018-07-24

Description

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.

Number of official sources

1

Number of total sources

3

Download the dataset

Details

Cofinanced

Yes

Direct receiving agencies [Type]

Naspers Ltd. [Private Sector]

Loan Details

Maturity

5 years

Syndicated loan