Overview

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

Commitments (Constant USD, 2023)$81,299,256

Commitment Year•2017Country of Activity•ZambiaDirect Recipient Country of Incorporation•MauritiusSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 1, 2017

Last repayment (originally scheduled): Apr 1, 2022

Stakeholders

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

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Receiving agencies

Private Sector

Zambian Property Holdings Limited (ZPH)

Loan description

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

Interest type•UnknownMaturity•4.75 years

Narrative

Full Description

Project narrative

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). It carried a a maturity period of 4.75 years and a final maturity date in April 2022. Record ID#98489 captures this loan. Proceeds of the loan are unspecified. The loan was expected to mature in April 2022 but BOC extended the maturity to December 2022 (a maturity extension of about 0.667 years) to allow for long-term refinancing, as captured by Record ID#111096. The loan was then repaid with a syndicated loan in October 2022.