Bank of China contributes to $3 billion syndicated loan to facilitate Vedanta Resources' acquisition of Cairn India
Commitment amount
$ 245976036.26825547
Adjusted commitment amount
$ 245976036.27
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
India
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In September 2011, Bank of China contributed $200 million to a $3 billion syndicated loan agreement with Vedanta Resources Limited to facilitate its acquisition of a 40% ownership stake in Cairn India Ltd (an oil and gas exploration and production company, headquartered in Gurgaon, India). The borrowing terms of the loan are unknown. The other banks that participate in the loan syndicate are also unknown.
Additional details
1. Vedanta Resources Limited is an Indian diversified mining company headquartered in London, United Kingdom. It is the largest mining and non-ferrous metals company in India and has mining operations in Australia and Zambia and oil and gas operations in three countries.
Number of official sources
0
Number of total sources
1
Details
Cofinanced
Yes
Direct receiving agencies [Type]
Vedanta Resources [Private Sector]