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CDB provides $1 billion loan to América Móvil for Telecommunications Network Infrastructure Project and acquisition of Huawei equipment and services
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | América Móvil, S.A.B. de C.V. (America Movil) |
| Country | Mexico |
| Start Date | Apr 28, 2009 |
| End Date | Nov 02, 2028 |
| Duration | 7,128 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 38162 |
Grant Description
CDB provides $1 billion loan to América Móvil for Telecommunications Network Infrastructure Project and acquisition of Huawei equipment and services According to a filing with the U.S.
Securities and Exchange Commission (SEC), China Development Bank and América Móvil signed a $1 billion loan agreement on April 28, 2009 for a telecommunications network infrastructure project and for the purchase of telecommunications equipment and services from Huawei Technologies Co., Ltd.. CDB was the lender, sole lead arranger, and agent.
The proceeds of the loan were to be used by the borrower to modernize and expand América Móvil's telecommunications network in Latin America.
Staff Comments
1. For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
Sources & References
- América Móvil and the China Development Bank to subscribe a loan agreement
- America Movil secures US1B Chinese loan
- The New Banks in Town: Chinese Finance in Latin America
- America Movil Profits Up on Lower Costs - Secures Chinese Bank Loan
- América Móvil secures US$1bn loan from China Development Bank
- América Móvil contrata crédito de 1.000 millones de dólares con banco chino
- América Móvil and the China Development Bank to subscribe a loan agreement
- Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2008
- América Móvil - Wikipedia
- BEST TRADE FINANCE DEAL _ LatinFinance.com
- El Universal - Opinion - América Móvil, crédito del China Development Bank
- CDB Abril 28, 2009 (inglés) 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
América Móvil, S.A.B. de C.V. (America Movil)
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