Project ID: 90962

China Construction Bank provides BRL 90 million loan to Eneva in April 2020

Commitment amount

$ 19479715.157919746

Adjusted commitment amount

$ 19479715.16

Constant 2021 USD

Summary

Funding agency [Type]

China Construction Bank Corporation (CCB) [State-owned Commercial Bank]

Recipient

Brazil

Sector

Energy (Code: 230)

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

Implementation (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2020-04-27

Geography

Description

On April 27, 2020, the China Construction Bank -- through its subsidiary, China Construction Bank (Brasil) - Banco Múltiplo S.A -- signed a BRL 90 million loan agreement with Eneva, a Brazilian power company. The borrowing terms include an interest rate of 2.5% + CDI and a maturity of 1 year. The purpose of the loan was to help Eneva strengthen its cash balance, enhance its liquidity, and have greater flexibility to pursue future investment opportunities. The loan fully disbursed on April 24, 2020. Following the signing of the loan agreement, Evena expanded its network of financial institutions.

Additional details

1. The China Construction Bank (Brasil) has 45 branches in Brazil and 1 in the Cayman Islands. Its services range from loans, leasing, investment fund management, and others. CCB (Brasil) - Banco Múltiplo S.A. is one of these branches.

Number of official sources

5

Number of total sources

6

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Details

Cofinanced

No

Direct receiving agencies [Type]

Eneva [Private Sector]

Loan Details

Maturity

1 years

Interest rate

2.15%

Grant element (OECD Grant-Equiv)

3.5725%

Bilateral loan

Short-term loan