ICBC provides $160 million loan to Innovate Mas Indonesia for fiber-to-home projects
Commitment amount
$ 179564091.1326324
Adjusted commitment amount
$ 179564091.13
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Indonesia
Sector
Communications (Code: 220)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
Yes
Category
Project lifecycle
Description
On April 30, 2015, ICBC signed a $160 million loan facility agreement with Innovate Mas Indonesia (IMI) — a subsidiary of PT Dian Swastatika Sentosa Tbk — for ‘fiber-to-home (telecommunication) projects. The loan carries an 8 year maturity, 3 year grace period, and an interest rate of 6-month LIBOR (.405% in April 2015) plus a 3.7% margin.
Additional details
1. The Chinese project title is 之 FTTH 网 络建设项目. 2. PT Dian Swastatika Sentosa Tbk is itself a subsidiary of Sinar Mas Group (a private company). 3. One official source refers to the face value of the loan as $55,948,793. This issue merits further investigation
Number of official sources
4
Number of total sources
7
Details
Cofinanced
No
Direct receiving agencies [Type]
Innovate Mas Indonesia [Joint Venture/Special Purpose Vehicle]
Implementing agencies [Type]
Innovate Mas Indonesia [Joint Venture/Special Purpose Vehicle]
Loan Details
Maturity
8 years
Interest rate
4.105%
Grace period
3 years
Grant element (OECD Grant-Equiv)
23.2505%