ICBC contributes IDR 295 billion to a IDR 661 billion syndicated loan to an Indonesian corrugated paper manufacturer
Commitment amount
$ 31847356.445371196
Adjusted commitment amount
$ 31847356.45
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Indonesia
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
No
Category
Project lifecycle
Description
In 2013, ICBC Indonesia and Permata Bank participated in a IDR 661 billion syndicated loan agreement with an Indonesian company that was a market leader in corrugated paper manufacturing. ICBC Indonesia acted as the Security Agent and contributed IDR 295 billion to the loan syndicate. The borrowing terms of the loan and the implementation status of the project are unknown.
Additional details
1. AidData has coded this transaction as a collateralized loan because ICBC Indonesia was selected as the security agent (i.e. collateral agent) for the loan. When lenders take collateral as security for their loans, a collateral/security agent is often appointed to enforce rights against the collateral in the event of the borrower’s default under the loan. 2. This loan should not be confused with ICBC loans made to two other paper manufacturers in 2014 and 2015, respectively (captured in Project ID#66278 and ID#66279). 3. The specific Indonesian market leader in corrugated paper manufacturing that received the loan is unknown.
Number of official sources
1
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Permata Bank [State-owned Bank]
Security agent/Collateral agent [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]