China Construction Bank contributes $690,000 to syndicated loan with PT Solusi Tunas Pratama for unspecified purposes (Linked to Project ID#66455, 71241, 89257, 89258, 89259, 89260, 89261)
Commitment amount
$ 751996.3260362869
Adjusted commitment amount
$ 751996.33
Constant 2021 USD
Summary
Funding agency [Type]
China Construction Bank Corporation (CCB) [State-owned Commercial Bank]
Recipient
Indonesia
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
On February 27, 2018, PT Solusi Tunas Pratama (STP) signed new 5-year loan facilities comprising USD 297 million term loan, IDR 3050 billion term loan, and IDR 800 billion revolving credit facilities to refinance its existing bank loans and bonds. ("STP Press Release") This project is of a total contribution of $20.43 million from China Construction Bank. According to IJ Global, there were 3 term loans and 1 revolver signed in total, and all the tranches include financing from the Bank of China and China Construction Bank. In the $297 million term loan tranche, Bank of China and China Construction Bank contributed $10.24 million respectively; In the $20 million term loan tranche, BoC and CCB contributed $0.69 million respectively; In the $218 million term loan tranche, BoC and CCB contributed $7.52 million respectively; In the $57.3 million revolver tranche, they contributed $1.98 million respectively. In total they each contributed $20.43 million in the $592,3 million total transactions. Facility six is led by six mandated lead arrangers and bookrunners — BNP Paribas, Citi, ING, Mitsubishi UFJ Financial Group, Standard Chartered, and Sumitomo Mitsui Banking Corp. The USD term facility has an interest rate of LIBOR + 2.10% for onshore lenders, and LIBOR + 2.25% for offshore lenders and the IDR loan facilities have an interest of LIBOR + 2.75% ("STP Press Release"). The payment of this loan for the year ended December 31, 2018, amounted to Rp30,500 and USD3,170,000. ("Annual Report 2018.") This project is linked to the other contributions from Bank of China and China Construction Bank: Project ID #66455, 71214, 89257, 89258, 89259, 89260, 89261.
Additional details
1. According to the IJGlobal report, the loan is signed on Jun 18, 2018, instead of Feb 27, 2018, as recorded in STP Press Release.
Number of official sources
2
Number of total sources
4
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Bank of China (BOC) [State-owned Commercial Bank]
BNP Paribas S.A. [Private Sector]
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)) [Private Sector]
PT Bank CIMB Niaga Tbk [State-owned Bank]
PT Bank Mandiri (Persero) Tbk [State-owned Bank]
Permata Bank [State-owned Bank]
Standard Chartered Bank PLC [Private Sector]
Sumitomo Mitsui Banking Corporation [Private Sector]
Chinatrust Commercial Bank [Private Sector]
Bank of Kaohsiung (BOK) [Government Agency]
PT Bank Rakyat Indonesia (Persero) Tbk [State-owned Bank]
Coöperatieve Rabobank U.A. (Rabobank) [Private Sector]
SinoPac Financial Holding Company Ltd. [Private Sector]
E.Sun Financial Holdings [Private Sector]
Eastspring Investments [Private Sector]
Mitsubishi HC Capital America [Private Sector]
ING Bank N.V. [Private Sector]
Far Eastern International Bank (FEIB) [Private Sector]
Taiwan Shin Kong Commercial Bank [Private Sector]
National Bank of Kuwait S.A.K. (NBK) [Private Sector]
Australia and New Zealand Banking Group (ANZ) [Private Sector]
Bank of East Asia Limited (BEA) [Private Sector]
Taishin International Bank (Taishin Bank) [Private Sector]
Taipei Fubon Commercial Bank Co., Ltd. (Taipei Fubon Bank) [Private Sector]
Yuanta Commercial Bank (Yuanta Bank) [Private Sector]
Citibank N.A. [Private Sector]
Cathay United Bank [Private Sector]
Direct receiving agencies [Type]
PT Solusi Tunas Pratama (STP) [Private Sector]
Loan Details
Maturity
5 years
Interest rate
4.739%
Grant element (OECD Grant-Equiv)
10.4469%