Bank of China contributes to the €65 million EUR B loan tranche of a €150 million EUR syndicated loan to Cosmote Mobile Telecommunications to finance mobile network rollout and other capital expenditures (Linked to Record ID#98773)

Project narrative

In July 2017, a syndicate of 11 banks — including the Luxembourg Branch of the Bank of China (BOC) and the Luxembourg Branch of the Industrial and Commercial Bank of China (ICBC) — entered into a €150 million EUR syndicated loan agreement with Cosmote Mobile Telecommunications S.A. — a Greek mobile operator and a fully owned subsidiary of Greece’s largest telecommunications provider Hellenic Telecommunications Organisation S.A. (OTE Group) — to finance mobile network rollout and other capital expenditures. This loan had a A/B loan (two tranche) structure: a €85,000,000 EUR A loan provided solely by the European Bank for Reconstruction and Development (EBRD) and a €65,000,000 EUR B loan tranche provided by 10 commercial lenders. The loan was approved on June 20, 2017. The proceeds were to be used by the borrower to fund the expansion of its 4G/4G+ network and the use of state-of-the-art climate-friendly sustainable technology seeking to improve infrastructure resilience in the face of extreme weather, heat stress, and high temperatures, making a more resilient Greek company, reducing climate emissions, and a greener economy. BOC and ICBC contributed to the €65,000,000 EUR B loan tranche. Record ID#98772 captures BOC's contribution. Record ID#98773 captures ICBC's contribution. In addition to BOC and ICBC, the following eight lenders contributed to the B loan tranche: Eurobank Private Bank Luxembourg S.A., National Bank of Greece S.A. (NBG), Raiffeisen Bank International AG, Alpha Bank Romania SA, Intesa Sanpaolo S.P.A., Hellenic Bank Public Company Ltd, Piraeus Bank S.A., and Nomura International plc.