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China Eximbank provides RMB 600 million loan for construction of modular drilling rigs in Mexico (Linked to Record ID#105601)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | China Oilfield Services Limited (COSL) |
| Country | Mexico |
| Start Date | Jun 01, 2006 |
| End Date | Jul 26, 2027 |
| Duration | 7,725 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 105600 |
Grant Description
China Eximbank provides RMB 600 million loan for construction of modular drilling rigs in Mexico In June 2006, China Oilfield Services Limited obtained an RMB 600,000,000 unsecured loan from China Eximbank for the purpose of financing the construction of certain modular drilling rigs in Mexico (Record ID#105600).
It bore an annual interest rate at 4.05% for the first year, and then bore the prevailing market interest rate of similar loan types quoted by the People’s Bank of China for the every year thereafter.
Then, in February 2007, China Oilfield Services Limited obtained an RMB 344,000,000 unsecured loan from China Eximbank for the purpose of financing the construction of certain modular drilling rigs in Mexico (Record ID#105601).
It bore an annual interest rate at 4.05% for the first year, and then bore the prevailing market interest rate of similar loan types quoted by the People’s Bank of China for the every year thereafter.
The borrower was expected to repay the two loans from June 30, 2008 to June 30, 2013 in the following installments: RMB 200 million on every June 30 from 2008 to 2011, RMB 100 million on June 30, 2012, and RMB 44 million on June 30, 2013.
Sources & References
China Oilfield Services Limited Annual Report 2008 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
China Oilfield Services Limited (COSL)
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