Bank of China participates in $250 million syndicated buyer’s credit loan for unspecified purposes
Commitment amount
$ 136231218.48483458
Adjusted commitment amount
$ 136231218.48
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Brazil
Sector
Unallocated/unspecified (Code: 998)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
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.
Additional details
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.
Number of official sources
0
Number of total sources
2
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Banco Santander, S.A. (Santander Group) [Private Sector]
Direct receiving agencies [Type]
Enel Brasil S.A. [Private Sector]
Guarantee provider [Type]
Enel S.p.A. [Private Sector]
Collateral provider [Type]
Enel Brasil S.A. [Private Sector]
Collateral
Receivables and share collateral from Enel Brazil
Loan Details
Maturity
10 years