Overview

ICBC Indonesia contributes IDR 500 billion to syndicated loan for palm oil and rubber plantation company in Indonesia

Commitments (Constant USD, 2023)$39,764,586

Commitment Year•2017Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•IndonesiaSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Apr 11, 2017

First repayment (originally scheduled): Jul 1, 2020

Last repayment (originally scheduled): Dec 30, 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

PT Bank ICBC Indonesia

Cofinancing agencies

Private Sector

Maybank International (L) Limited
PT Bank Central Asia Tbk (BCA)

State-owned Banks

Bank Riau Kepri
Indonesia Eximbank
PT Bank Mandiri (Persero) Tbk

Receiving agencies

State-owned companies

PT Perkebunan Nusantara V

Implementing agencies

State-owned companies

PT Perkebunan Nusantara V

Loan description

ICBC contributions to IDR 4.86625 trillion syndicated loan to PT Perkebunan Nusantara V for working capital purposes.

Grace period•3.5 yearsInterest type•UnknownMaturity•10 years

Narrative

Full Description

Project narrative

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.