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CDB provides $200 million secured loan to Partners Telecom Colombia and Avantel for the maintenance and development of mobile telecommunication networks in Colombia
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Avantel S.A.S.|Partners Telecom Colombia S.A.S. |
| Country | Colombia |
| Start Date | Jan 21, 2022 |
| End Date | Nov 26, 2026 |
| Duration | 1,770 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 105573 |
Grant Description
CDB provides $200 million secured loan to Partners Telecom Colombia and Avantel for the maintenance and development of mobile telecommunication networks in Colombia On January 21, 2022, the Shenzhen Branch of China Development Bank signed a $200 million facility agreement with Partners Telecom Colombia S.A.S. -- a subsidiary of the Chilean telecommunications services company WOM -- and Avantel S.A.S. for the maintenance and development of mobile telecommunication networks in Colombia.
However, it is known that the facility agreement was structured under the laws of London and it involved a complex security package mainly governed by Colombian law.
Staff Comments
- Posse Herrera Ruiz acted as legal counsel to China Development Bank Shenzhen Branch. Gómez-Pinzón acted as legal counsel to Partners Telecom Colombia.
- Based in Bogota, Colombia, and founded in 1996, Avantel S.A.S. operates as a telecommunications company that offers different types of communication and services. The firm operates in more than 20 cities in Colombia. The company was acquired by Novator Partners in July 2020 and entered into a merger agreement with Partners Telecom Colombia S.A.S. (WOM) in May 2021. The firm offers data solutions, mobile telecommunications services, and plans and equipment for its clients. The company's portfolio includes business mobile solutions, corporate communication networks, satellite location, voice services through digital trunking, telephone access to and from any destination, and machine-to-machine custom systems. The firm offers postpaid, prepaid, and push-to-talk plans. The company's revenue is generated by offering international roaming, which enables users to stay connected even in abroad, as well as by providing different types of packages for chat and calls.
- Partners Telecom Colombia S.A.S. -- a subsidiary of the Chilean telecommunications services company WOM -- is an enterprise based in Colombia. Its main office is in Bogota D.C.. It operates in the Wireless Telecommunications Carriers (except Satellite) industry. The company was established on January 13, 2020.
Sources & References
- WOM obtiene préstamo de 200 millones de dólares en Colombia
- POSSE HERRERA RUIZ ADVISES CHINA DEVELOPMENT BANK SHENZHEN BRACH IN THE FINANCING GRANTED TO PARTNERS TELECOM COLOMBIA S.A.S. (WOM) AND AVANTEL S.A.S. EN REORGANIZACIÓN
- Banking and finance in Colombia
- Partners Telecom Colombia and Avantel’s $200 Million Reorganization
- Colombian telecoms group gets China Development Bank loan Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Avantel S.A.S.|Partners Telecom Colombia S.A.S.
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