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Overview

ICBC Indonesia contributes IDR 295 billion to a IDR 661 billion syndicated loan to an Indonesian corrugated paper manufacturer

Commitments (Constant USD, 2023)$29,191,654
Commitment Year•2013Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•IndonesiaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2013

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

  • Permata Bank

Receiving agencies

Private Sector

  • Unspecified Indonesian corrugated paper manufacturer

Security / collateral agents

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Loan description

ICBC Indonesia contributes IDR 295 billion to a IDR 661 billion syndicated loan to an Indonesian corrugated paper manufacturer

Interest type•Unknown

Narrative

Full Description

Project narrative

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.

Staff comments

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 Record ID#66278 and ID#66279). 3. The specific Indonesian market leader in corrugated paper manufacturing that received the loan is unknown.