The syndicated loan, lead by Bank of China and the China Construction Bank, is the largest-ever yuan-denominated loan, the bank said in a statement.
The loan will help finance the US$32.8 billion purchase of the seven networks from China Mobile's mainland-based parent company, China Mobile Communications Corp.
The deal sees the acquisition mobile phone operations in seven Chinese provinces and municipalities: Beijing, Shanghai, Tianjin, Hebei, Liaoning, Shandong and Guangxi.
In addition to the loan, China Mobile will raise US$6.6 billion by issuing new shares.
Vodafone Group PLC has pledged to purchase US$2.5 billion of those shares, a 2 percent share in China Mobile (Hong Kong), in order to gain a foothold in the fast-growing mainland market.
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