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Overview

Bank of China (Hong Kong) contributes $22 million to $200 million syndicated loan to PT Bank Rakyat Indonesia in August 2020 for unspecified purposes (Linked to Record ID#97837)

Commitments (Constant USD, 2023)$22,698,144
Commitment Year•2020Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•Hong Kong (China)Sector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Aug 14, 2020
Last repayment (originally scheduled)
Jul 30, 2021

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)

Cofinancing agencies

Private Sector

  • Citibank, N.A.
  • CTBC Bank (formerly Chinatrust Commercial Bank)
  • MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
  • PT Bank Mizuho Indonesia

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

State-owned Banks

  • PT Bank Rakyat Indonesia (Persero) Tbk

Implementing agencies

State-owned Banks

  • PT Bank Rakyat Indonesia (Persero) Tbk

Loan description

CDB and BOC contributions to USD 200 million syndicated loan to PT Bank Rakyat Indonesia for unspecified purposes

Grant element•4.284%Interest rate (t₀)•0.634%Interest type•Variable Interest RateLoan tenor•3-month rateMaturity•1 years

Narrative

Full Description

Project narrative

On August 14, 2020, PT Bank Rakyat Indonesia (Persero) Tbk — an Indonesian state-owned bank — made a $200 million (‘facility A’) withdrawal under a $1 billion syndicated loan facility for unspecified purposes. The borrowing carried an interest rate of three-month LIBOR plus 55 basis points and a 1-year maturity (final maturity date: July 30, 2021). The participating banks were MUFG Bank Ltd ($32,000,000), China Development Bank, Hong Kong branch ($86,000,000), PT. Bank Mizuho Indonesia ($20,000,000), CTBC Bank Co., Ltd., Singapore branch ($20,000,000), Bank of China (Hong Kong) Limited ($22,000,000), and Citibank, N.A., Indonesia branch ($20,000,000). CDB's contribution is captured via Record ID#97837.

Staff comments

1. AidData has calculated the interest rate for this loan using the 3-month LIBOR from August 2020 (0.084%). For more information, see: https://www.global-rates.com/en/interest-rates/libor/american-dollar/2020.aspx