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Overview

Bank of China (Hong Kong) provides $60 million revolving loan facility to Protelindo for general corporate purposes

Commitments (Constant USD, 2023)$56,695,148
Commitment Year•2022Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•Hong Kong (China)Sector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Feb 28, 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 (Hong Kong) Limited (BOCHK)

Receiving agencies

State-owned companies

  • PT Profesional Telekomunikasi Indonesia (Protelindo)

Guarantors

State-owned companies

  • PT Iforte Solusi Infotek
  • PT Solusi Tunas Pratama, Tbk. (SUPR)

Loan description

Bank of China (Hong Kong) provides $60 million revolving loan facility to Protelindo for general corporate purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

On February 28, 2022, the Bank of China (Hong Kong) Limited (BOCHK) signed a $60,000,000 revolving loan facility agreement with PT Profesional Telekomunikasi Indonesia (Protelindo) for general corporate purposes. PT Iforte Solusi Infotek and PT Solusi Tunas Pratama, Tbk. (SUPR) issued corporate guarantees for Protelindo's repayment obligations. The loan was governed by English law. The proceeds were to be used by Protelindo for its general corporate purposes. As of March 31, 2024, the loan had no amount outstanding.

Staff comments

1. PT Profesional Telekomunikasi Indonesia (Protelindo) is a subsidiary of the Indonesian state-owned telecommunications company PT Sarana Menara Nusantara Tbk. 2. PT Iforte Solusi Infotek is a 99.99% direct subsidiary of Protelindo. 3. PT Solusi Tunas Pratama, Tbk. (SUPR) is a 99.96% owned direct subsidiary of Protelindo.