Overview

ICBC Indonesia participates in syndicated loan to PT Para Bandung Propertindo

Commitment Year•2017Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•IndonesiaSector•Other Social Infrastructure And ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2017

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

The purpose of this project was to support Trans Luxury Hotel & Trans Studio Bandung in the city of Bandung within West Java Province. More detailed locational information can be found at https://www.openstreetmap.org/way/154204630

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

PT Bank ICBC Indonesia

Cofinancing agencies

Private Sector

CT Corp

Receiving agencies

State-owned companies

PT Para Bandung Propertindo

Implementing agencies

State-owned companies

PT Para Bandung Propertindo

Loan description

ICBC contributions to syndicated loan to PT Para Bandung Propertindo

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2017, ICBC Indonesia participated in a syndicated loan with CT Corp — a leading private conglomerate in Indonesia owned by Chairul Tanjung (CT) — to finance PT Para Bandung Propertindo, owner of Trans Luxury Hotel & Trans Studio Bandung. ICBC's contribution to the loan is unclear.

Staff comments

1. The 2017 ICBC Indonesia Annual Report states that two syndicated loans were issued worth USD 50 million and IDR 675 billion, respectively. It is unclear if ICBC Indonesia contributed to both of these loans. It is also unclear if both loans were intended for PT Para Bandung Propertindo.