China Development Bank provides $43,260,012 loan to State Grid Brazil Holding S.A.

Funder	China (People's Republic of)
Recipient Organization	Brazil
Country	Brazil
Start Date	Apr 06, 2014
End Date	Jul 11, 2030
Duration	5,940 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`60073`

Grant Description

China Development Bank loans $43,260,012 to State Grid Brazil Holding S.A.

On November 17, 2014, China Development contracted a $43,260,012 loan to State Grid Brazil Holding S.A. for its subsidiary Serra Paracatu Transmissora de Energia S.A. (SPTE). The loan has an interest rate of LIBOR + 2.85% (Nov. 2014 6 month LIBOR average + 2.85 = 3.177%).

Payment of principal and interest will be in 21 semiannual installments, beginning in December 2014 and with final maturity on September 6, 2024. 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.