Loading grant details…
CDB provides $400 million buyer’s credit loan to Axis to facilitate acquisition of Huawei equipment and services
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | PT Axis Telekom Indonesia (Axis) |
| Country | Indonesia |
| Start Date | May 25, 2011 |
| End Date | Jul 30, 2026 |
| Duration | 5,545 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 66418 |
Grant Description
CDB contributions to USD 1.2 billion syndicated loan for Huawei equipment On May 25, 2011, China Development Bank (CDB) issued a $400 million buyer’s credit loan (BCL) to PT Axis Telekom Indonesia (Axis) to facilitate its acquisition of equipment and services from Huawei.
The Huawei equipment would be used to expand the 3G cellular network in Indonesia.
The CDB loan facility was part of a larger $1.2 billion transaction made up of three distinct facilities: a $450 million dual currency syndicated facility arranged by Deutsche Bank AG Saudi Arabia Limited and HSBC Saudi Arabia Limited and funded by Deutsche Bank Luxembourg S.A. and The Saudi British Bank, a $400 million facility to fund equipment purchases and civil works from Huawei, funded by China Development Bank and a $350 million facility to fund equipment purchases from Ericsson, arranged by HSBC, funded by AB Svensk Exportkredit (SEK) and backed by EKN, the Swedish Export Credit Agency.
The deal also included the largest Islamic hedge transaction ever carried out in Asia, with the hedge being provided by Saudi British Bank and Deutsche Bank AG, International Islamic Banking, Malaysia Branch.
Sources & References
- PT Natrindo Telepon Seluler Islamic financing
- Axis Corporate Financing 2011
- Saudi operator inks Indonesia deal
- UPDATE 1-Axiata boosts Indonesia telecom presence, buys Saudi Telecom unit
- UPDATE 1-Saudi Telecom resolves $1.2 bln loan issue with creditors -sources
- Clifford Chance advises largest cross-border Islamic facility in Indonesia
- Saudi Telecom Company completes $1.2bn financing for Indonesian unit
- Saudi Telecom Company
- Islamic finance: Saudi Telecom's Axis scores record dea 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
PT Axis Telekom Indonesia (Axis)
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
