Project ID: 98489

Bank of China provides $76.4 million loan to Zambian Property Holdings Limited in 2017

Commitment amount

$ 88038635.1964024

Adjusted commitment amount

$ 88038635.2

Constant 2021 USD

Summary

Funding agency [Type]

Bank of China (BOC) [State-owned Commercial Bank]

Recipient

Zambia

Sector

Business and other services (Code: 250)

Flow type

Loan

Level of public liability

Private debt

Infrastructure

No

Category

Intent

Commercial (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2017-07-01

Actual complete

2022-10-01

Description

In July 2017, Bank of China provided a $76.4 million loan to Zambian Property Holdings Limited, a Zambian-based company owned by GRIT Real Estate Income Group (leading pan-African real estate company that owns malls in Zambia). Proceeds of the loan are unspecified but are assumed to be used for general corporate purposes. The loan was expected to mature in April 2022 but was extended to December 2022 to allow for long-term refinancing. This leaves the loan with an estimated maturity period of 5.5 years. It was then repaid with a syndicated loan in October 2022. Other borrowing terms of the loan are unknown.

Number of official sources

6

Number of total sources

9

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Details

Cofinanced

No

Direct receiving agencies [Type]

Zambian Property Holdings Limited [Private Sector]

Loan Details

Maturity

6 years

Bilateral loan