Overview

Bank of China contributes $15 million to $350 million syndicated loan to Saptaindra Sejati for unspecified purposes

Commitments (Constant USD, 2023)$14,173,787

Commitment Year•2022Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 1, 2022

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Cofinancing agencies

Private Sector

CTBC Bank (formerly Chinatrust Commercial Bank)
PT Bank Permata Tbk
United Overseas Bank Limited (UOB)

State-owned Banks

CIMB Bank Berhad
PT Bank Mandiri (Persero) Tbk
Qatar National Bank Q.P.S.C. (QNB)

Receiving agencies

Private Sector

PT Saptaindra Sejati

Loan description

BOC contributions to 350 million USD syndicated loan to Saptaindra Sejati for unspecified purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In July 2022, a syndicate of seven banks — including the Bank of China (BOC) — entered into a $350 million syndicated loan agreement with PT Saptaindra Sejati (SIS) for unspecified purposes. BOC contributed $15 million; in addition to BOC, the following lenders contributed to the loan syndicate: CIMB Bank Berhad, United Overseas Bank Limited (UOB), Bank Mandiri, PT Bank Permata Tbk, CTBC Bank, and Qatar National Bank (QNB).

Staff comments

1. SIS is the mining contractor unit of Indonesia-based coal company PT Adaro Energy Tbk.