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Overview

Bank of China (Hong Kong) Jakarta Branch provides $50 million term loan to Indonesia Eximbank for on-lending purposes in January 2019

Commitments (Constant USD, 2023)$51,899,375
Commitment Year•2019Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•IndonesiaSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 28, 2019
Last repayment (originally scheduled)
Jan 28, 2020

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

  • Bank of China (Hong Kong) Limited (BOCHK)

Receiving agencies

State-owned Banks

  • PT Lembaga Pembiayaan Ekspor Indonesia (LPEI)

Implementing agencies

State-owned Banks

  • PT Lembaga Pembiayaan Ekspor Indonesia (LPEI)

Loan description

Bank of China (Hong Kong) Jakarta Branch provides $50 million term loan to Indonesia Eximbank for on-lending purposes in January 2019

Interest type•Variable Interest RateLoan tenor•3-month rateMaturity•1 years

Narrative

Full Description

Project narrative

On January 28, 2019, Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank or LPEI) — an Indonesia state-owned bank — signed a $50 million facility (loan) agreement with Bank of China (Hong Kong) Limited Jakarta Branch for on-lending purposes. The loan carried the following borrowing terms: a 1-year maturity (final maturity date: October 20, 2023) and an interest rate of 3-month LIBOR plus an unspecified margin. Then, on October 22, 2019, LPEI signed amendment to the loan (facility) agreement with Bank of China (Hong Kong) Limited Jakarta Branch where the loan (facility) can be utilized in USD and IDR currencies. Approximately one week later, on October 28, 2019, the loan fully disbursed in IDR (IDR 550,000,000,000). The loan was fully repaid on repaid on January 28, 2020.