ICBC contributed $12.5 million to a $100 million term loan to Mirana Megatara (Linked to Project ID#96783, 96784, 96786)
Commitment amount
$ 15373502.266765967
Adjusted commitment amount
$ 15373502.27
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Indonesia
Sector
Unallocated/unspecified (Code: 998)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
Between August 12-18, 2011, Kirana Megatara obtained a $600 million dual-tranche financing through book-runners Bank CIMB Niaga, Bank Permata, HSBC, and Standard Chartered. The transaction comprises a $500 million three-year revolver and a $100 million five-year term loan. The revolver offers a margin of 470bp and 420bp over Sibor for onshore and offshore lenders respectively while the term loan is priced at 500bp and 450bp over Sibor for onshore and offshore lenders respectively. Syndication saw Bank of China, Bank of Tokyo-Mitsubishi UFJ, ICBC, OCBC NISP, Rabobank, Export-Import Bank of Indonesia, Korea Development Bank, and OCBC join in at lower tiers. The proceeds are for working capital and capital expenditure purposes. BOC's contribution to the five-year term loan is recorded in Project ID#96786. ICBC and BOC's contributions to the three-year revolver are recorded in Project ID#96784 and Project ID#96783.
Additional details
1. Individual contribution amounts are unclear. For the time being, Aiddata assumes equal contributions from the eight banks.
Number of official sources
0
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)) [Private Sector]
PT Bank OCBC Indonesia [Private Sector]
Oversea-Chinese Banking Corporation, Limited (OCBC Bank) [Private Sector]
Rabobank [Private Sector]
Indonesia Eximbank [State-owned Bank]
Korea Development Bank (KDB) [State-owned Bank]
Bank of China (BOC) [State-owned Commercial Bank]
Direct receiving agencies [Type]
Kirana Megatara [State-owned Company]