ICBC Indonesia provides $380 million term loan to Indonesia Eximbank for on-lending purposes in September 2020
Commitment amount
$ 424398060.9072116
Adjusted commitment amount
$ 424398060.91
Constant 2021 USD
Summary
Funding agency [Type]
ICBC Indonesia [State-owned Commercial Bank]
Recipient
Indonesia
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On September 24, 2020, Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank or LPEI) — an Indonesia state-owned bank — signed a $380 million term loan agreement with PT Bank ICBC Indonesia, a subsidiary of the Industrial and Commercial Bank of China Limited (ICBC) for on-lending purposes. During the signing of the loan agreement, the LPEI was represented by Agus Windiarto and Henry Sihotang, and the ICBC was represented by Thomas Arifin, Director of PT Bank ICBC Indonesia. The signing ceremony was held at Indonesia Eximbank's Head Office in Jakarta. The loan carries the following borrowing terms: a 5-year maturity and an interest rate of 3-month LIBOR plus an unspecified margin. The lender disbursed $150 million on September 29, 2020 and $100 million on November 19, 2020. The final maturity dates of these two borrowings are September 29, 2025 and November 19, 2025, respectively. The loan is expected to help the growth of export through financing disbursement to export-oriented sectors. The agreement was announced on the same day as a China Eximbank loan to the LPEI. Please see #96330 for more information on that loan.
Number of official sources
2
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
PT Lembaga Pembiayaan Ekspor Indonesia (LPEI) [State-owned Bank]
Implementing agencies [Type]
PT Lembaga Pembiayaan Ekspor Indonesia (LPEI) [State-owned Bank]
Loan Details
Maturity
5 years