Overview

ICBC Indonesia provides $10 million working capital loan to PT Lontar Papyrus Pulp & Paper Industry

Commitments (Constant USD, 2023)$10,255,532

Commitment Year•2014Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•IndonesiaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 23, 2014

End (actual): Jan 19, 2018

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

Receiving agencies

Private Sector

PT Lontar Papyrus Pulp & Paper Industry

Implementing agencies

Private Sector

PT Lontar Papyrus Pulp & Paper Industry

Guarantors

Private Sector

PT Purinusa Ekapersada

Loan description

ICBC Indonesia provides $10 million working capital loan to PT Lontar Papyrus Pulp & Paper Industry

Interest type•Unknown

Narrative

Full Description

Project narrative

On December 23, 2014, ICBC Indonesia agreed to provide a working capital credit facility of $10 million to PT Lontar Papyrus Pulp & Paper Industry for a period of 3 years. PT Purinusa Ekapersada served as a corporate guarantor. The facility was fully paid on January 19, 2018. In 2014, ICBC Indonesia took part in a $100 million club deal facility agreement with PT Lontar Papyrus Pulp & Paper Industry. This 10 million working capital credit facility is likely a contribution to the club deal facility.

Staff comments

1. This is a separate transaction (financial flow) from Record ID#73208, which captures a $25 million investment credit facility from ICBC.