Overview

ICBC participates in $470 million USD loan to PT Triputra Agro Persada for expanding oil plam plantations

Commitments (Constant USD, 2023)$34,711,893

Commitment Year•2013Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Aug 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

Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

Australia and New Zealand Banking Group (ANZ)
Coöperatieve Rabobank U.A. (Rabobank)
DBS Bank Ltd.
HSBC (Hong Kong and Shanghai Banking Corporation)
Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
PT Bank CIMB Niaga Tbk
PT Bank OCBC Indonesia
PT Bank Permata Tbk
Standard Chartered Bank PLC
United Overseas Bank Limited (UOB)

State-owned Banks

PT Bank DKI
PT Indonesia Eximbank
PT QNB Kesawan Tbk

Receiving agencies

Private Sector

PT Triputra Agro Persada Tbk (TAP)

Loan desecription

ICBC contributions to USD 470 million syndicated loan for PT Triputra Agro Persada fpr oil plam plantations plantation

Interest type•Unknown

Narrative

Full Description

Project narrative

In August 2013, PT Triputra Agro Persada (TAP) entered into a $470 million USD syndicated loan with 14 foreign and local banks to partly finance its expansion of the company's oil palm plantations. DBS and HSBC are the co-leaders of the syndicate which also includes T Bank Permata Tbk, PT Bank CIMB Niaga Tbk, PT Bank DKI, PT Indonesia Eximbank, PT Bank OCBC NISP Tbk, and PT QNB Kesawan Tbk, ANZ, ICBC, OCBC, Standard Chartered, UOB, and Rabo bank. About $270 million USD of this loan will be used for plantations, like land clearing, infrastructure, seeds, electricity, and staff housing. The other $200 mullion will be used to refinance the TAP's loan.

Staff comments

1. Individual contributions from the 14 banks to the loan are unclear. Aiddata assumes equal contribution from all banks ($33,571,428.6).