BOC contributes $81 million to a $270 million syndicated loan to Huawei Tech Investment for the purchase of receivables owed by an Indonesian operator
Commitment amount
$ 112810881.79949546
Adjusted commitment amount
$ 112810881.8
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Indonesia
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
Yes
Category
Project lifecycle
Description
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.
Additional details
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.
Number of official sources
1
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Standard Chartered Bank (Hong Kong) Limited [Private Sector]
Direct receiving agencies [Type]
Huawei Technologies Co., Ltd. [Private Sector]
Insurance provider [Type]
China Export & Credit Insurance Corporation (Sinosure) [State-owned Company]