ICBC Indonesia contributes IDR 500 billion to syndicated loan for palm oil and rubber plantation company in Indonesia
Commitment amount
$ 43060909.5368817
Adjusted commitment amount
$ 43060909.54
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Indonesia
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On April 11, 2017, PT Perkebunan Nusantara V — a state-owned palm oil and rubber plantation company — signed a IDR 4.86625 trillion syndicated loan agreement with six banks (including ICBC Indonesia, Bank Mandiri, Bank BCA, Maybank Indonesia, Indonesian Eximbank, and PT Bank Riau Kepri). This loan carried a 10 year maturity and a grace period of 3.5 years. Its interest rate is unknown. ICBC Indonesia contributed IDR 500 billion to the loan syndicate. Bank Mandiri was the Mandated Lead Arranger (MLA). The proceeds of the loan were provided to the borrower in three tranches for three separate purposes: an IDR 2.22 trillion tranche to pay off the company’s existing loans, and IDR 2.143 trillion tranche to finance investment projects, and an IDR 500 billion tranche for working capital purposes.
Number of official sources
2
Number of total sources
5
Details
Cofinanced
Yes
Cofinancing agencies [Type]
PT Bank Central Asia Tbk (BCA) [Private Sector]
Maybank International (L) Limited [Private Sector]
Indonesia Eximbank [State-owned Bank]
Bank Riau Kepri [State-owned Bank]
PT Bank Mandiri (Persero) Tbk [State-owned Bank]
Direct receiving agencies [Type]
PT Perkebunan Nusantara V [State-owned Company]
Implementing agencies [Type]
PT Perkebunan Nusantara V [State-owned Company]
Loan Details
Maturity
10 years
Grace period
4 years