Bank of China participates in $250 million syndicated buyer’s credit loan for unspecified purposes

$125M USD

Funder	Bank of China (BOC)
Recipient Organization	Enel Brasil S.A.
Country	Brazil
Start Date	Aug 08, 2018
End Date	Sep 07, 2030
Duration	4,413 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`95967`

Grant Description

Bank of China contribution to USD 250 million syndicated buyer’s credit loan for unspecified purposes On August 8, 2018, Bank of China and Banco Santander signed a $250 million senior secured loan agreement with Enel Brasil S.A. for unspecified purposes. The loan has a 10-year maturity. It is secured against receivables and share collateral from Enel Brazil and is guaranteed by Enel S.p.A.

📋 Staff Comments

TozziniFreire Advogados was legal advisor to Bank of China and Banco Santander on Brazilian law, while Ashurst was counsel on international law. Enel Brazil mandated Cescon, Barrieu, Flesch & Barreto Advogados as local legal advisor and Norton Rose Fulbright advised the utility internationally.
The size of Bank of China’s contribution to the loan syndicate is unknown. For the time being, AidData assume equal contributions ($125 million) from the two members of the loan syndicate.

📚 Sources & References

Enel Brazil secures bank financing
Enel $250 million loan facility 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.