Active Commercial AidData Chinese Aid

China Eximbank provides RMB 1.05 billion secured loan for +2 M HP Telecommunications Network Expansion Project

¥1.05M RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Total Play Telecomuincaciones, S.A. de C.V.
Country	Mexico
Start Date	Jun 29, 2020
End Date	Oct 18, 2027
Duration	2,667 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`105608`

Grant Description

China Eximbank provides RMB 1.05 billion secured loan for +2 M HP Telecommunications Network Expansion Project On June 29, 2020, the Shenzhen Branch of China Eximbank signed an RMB 1,050,000,000 secured loan agreement with Total Play Telecomunicaciones, S.A. de C.V. for the +2 M HP Telecommunications Network Expansion Project.

📋 Loan / Grant Terms

💰 Loan Amountcarries the following borrowing terms: a 7-year maturity

📅 Maturity7 years

⏳ Grace Period2 years

💹 Interest Rate5.5%

The loan is backed by a guarantee agreement with Corporación RBS, S.A. de C.V. and a securities pledge agreement (contrato de prenda bursátil) with Corporación RBS, S.A. de C.V. over Grupo Elektra shares.

The purpose of the project was to fund the purchase of goods and services for the expansion of the +2 M HP telecommunications network. As of June 30, 2020, the loan had not yet disbursed.

📋 Staff Comments

1. Total Play Telecomunicaciones, S.A. de C.V. is a Mexican telecommunications provider that offers Internet, telephony, on-demand movies, and television services over direct-to-home fiber optics network. It serves residential and business customers in Mexico. It is owned by Grupo Salinas -- a conglomerate involved in retail, banking and TV broadcasting, among other sectors, throughout Mexico -- and operated by Grupo Totalplay.

📚 Sources & References

TOTAL PLAY TELECOMUNICACIONES
S.A.P.I. DE C.V. Quarterly Financial Information
TOTAL PLAY TELECOMUNICACIONES
S.A. DE C.V. AND SUBSIDIARIES (Subsidiary of Corporación RBS
S.A. de C.V.) AUDITED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2019 AND 2018
Total Play Telecomunicaciones
S.A. de C.V. Offering Memorandum dated November 9, 2020
Total Play Telecomunicaciones
S.A. de C.V. Offering Memorandum dated September 13, 2021 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

Total Play Telecomuincaciones, S.A. de C.V.

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