Overview

Bank of China (Hong Kong) provides IDR 500 billion loan to Protelindo for general corporate purposes

Commitments (Constant USD, 2023)$31,810,532

Commitment Year•2022Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•Hong Kong (China)Sector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 21, 2022

Last repayment (originally scheduled): Jan 20, 2026

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 (Hong Kong) Limited (BOCHK)

Receiving agencies

State-owned companies

PT Iforte Solusi Infotek
PT Profesional Telekomunikasi Indonesia (Protelindo)

Guarantors

State-owned companies

PT Iforte Solusi Infotek

Loan description

Bank of China (Hong Kong) provides IDR 500 billion loan to Protelindo for general corporate purposes

Interest type•UnknownMaturity•4 years

Narrative

Full Description

Project narrative

On January 21, 2022, the Jakarta Branch of the Bank of China (Hong Kong) Limited (BOCHK) signed a IDR 500,000,000,000 credit agreement with PT Profesional Telekomunikasi Indonesia (Protelindo) — a subsidiary of the Indonesian state-owned telecommunications company PT Sarana Menara Nusantara Tbk — and PT Iforte Solusi Infotek — a 99.99% direct subsidiary of Protelindo — for general corporate purposes. This loan carried a maturity period of four years (48 months) and was governed by Indonesian law. Iforte provided a corporate guarantee for Protelindo's obligations. The proceeds were to be used by Protelindo for general corporates purposes. As of March 31, 2024, the loan's amount outstanding was IDR 90,000,000,000