Overview

BOC contributes $81 million to a $270 million syndicated loan to Huawei Tech Investment for the purchase of receivables owed by an Indonesian operator

Commitments (Constant USD, 2023)$104,177,216

Commitment Year•2010Country of Activity•IndonesiaDirect Recipient Country of Incorporation•China (People's Republic of)Sector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 20, 2010

Stakeholders

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

Ultimate beneficial owners

At least 25% Chinese ownership

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Cofinancing agencies

Private Sector

Standard Chartered Bank (Hong Kong) Limited

Receiving agencies

Private Sector

Huawei Technologies Co., Ltd.

Insurance providers

State-owned companies

China Export & Credit Insurance Corporation (Sinosure)

Loan desecription

BOC contributions to USD 270 million syndicated loan for purchase of Huawei equipment

Interest type•Unknown

Narrative

Full Description

Project narrative

On December 20, 2010, Standard Chartered’s Hong Kong branch and Bank of China entered into a $270 million syndicated loan with Huawei Tech to purchase receivables owed by an Indonesian operator to Huawei for telecoms network equipment and installation. This medium-term multibank non-recourse receivable purchase facility had the Hong Kong Branch of Standard Chartered serve as the mandated lead arranger, and Sinosure provided insurance for 60% of the loan. Standard Chartered’s Hong Kong branch and Bank of China are only participating in the exposures covered by the Sinosure policy.

Staff comments

1. Individual contributions to this loan weren't specified. Aiddata assumes equal contribution to the 60% covered by Sinosure of the loan, which is $81 million.