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
Project lifecycle
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
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%