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Overview

Bank of China participates in $250 million syndicated buyer’s credit loan for unspecified purposes

Commitments (Constant USD, 2023)$125,787,037
Commitment Year•2018Country of Activity•BrazilDirect Recipient Country of Incorporation•BrazilSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Aug 8, 2018
Last repayment (originally scheduled)
Aug 5, 2028

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Banco Santander, S.A. (Santander Group) (formerly Banco Santander Central Hispano, S.A.)

Receiving agencies

Private Sector

  • Enel Brasil S.A.

Guarantors

Private Sector

  • Enel S.p.A.

Collateral providers

Private Sector

  • Enel Brasil S.A.

Loan description

Bank of China contribution to USD 250 million syndicated buyer’s credit loan for unspecified purposes

Interest type•UnknownMaturity•10 years

Collateral

Receivables and share collateral from Enel Brazil

Narrative

Full Description

Project narrative

On August 8, 2018, Bank of China and Banco Santander signed a $250 million senior secured loan agreement with Enel Brasil S.A. for unspecified purposes. The loan has a 10-year maturity. It is secured against receivables and share collateral from Enel Brazil and is guaranteed by Enel S.p.A.

Staff comments

1. TozziniFreire Advogados was legal advisor to Bank of China and Banco Santander on Brazilian law, while Ashurst was counsel on international law. Enel Brazil mandated Cescon, Barrieu, Flesch & Barreto Advogados as local legal advisor and Norton Rose Fulbright advised the utility internationally. 2. The size of Bank of China’s contribution to the loan syndicate is unknown. For the time being, AidData assume equal contributions ($125 million) from the two members of the loan syndicate.