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Overview

ICBC contributes to USD 275 million syndicated loan to Perusahaan Gas Negara (Linked to Record ID#98182, #98184, and #98185)

Commitments (Constant USD, 2023)$22,441,904
Commitment Year•2009Country 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
Nov 25, 2009
Last repayment (originally scheduled)
Nov 24, 2012

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

  • CTBC Bank (formerly Chinatrust Commercial Bank)
  • Intesa Sanpaolo S.P.A. (formerly Cariplo/Banca Intesa/BCI)
  • Mega International Commercial Bank Co., Ltd. (formerly International Commercial Bank of China)
  • MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
  • PT Bank Pan Indonesia, Tbk (PaninBank) (Bank Panin)
  • Standard Chartered Bank PLC
  • Sumitomo Mitsui Banking Corporation (SMBC)

State-owned Banks

  • Export-Import Bank of the Republic of China, Taipei
  • Indonesia Eximbank
  • PT Bank Mandiri (Persero) Tbk
  • PT Bank Negara Indonesia (Persero)
  • Qatar National Bank Q.P.S.C. (QNB)

State-owned Commercial Banks

  • Bank of China (BOC)
  • China CITIC Bank International Limited (formerly CITIC Ka Wah Bank)

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

State-owned companies

  • PT Perusahaan Gas Negara Tbk (PGN)

Loan description

CITIC Bank, CDB, BOC, and ICBC contributions to USD 275 million syndicated loan to Perusahaan Gas Negara for unspecified purposes

Grant element•8.4836%Interest rate (t₀)•3.35563%Interest type•Variable Interest RateLoan tenor•3-month rateMaturity•3 years

Narrative

Full Description

Project narrative

On November 25, 2009, Indonesian state-owned gas firm Perusahaan Gas Negara signed a $275 million syndicated loan agreement with seventeen banks. Known participants in the loan syndicate include China Development Bank (captured in Record ID#98182), Bank of China (captured in Record ID#98185), CITIC Ka Wah Bank (captured in Record ID#98184), and Industrial and Commercial Bank of China (captured in Record ID#98189), among others. This loan carries the following borrowing terms: a three-year maturity and an interest rate of LIBOR plus a 3.1% margin. The loan will be used for unspecified purposes.

Staff comments

1. The exact size of each financier's respective financial contributions to the $275 million syndicated loan is unknown. For the time being, AidData assumes that all 17 members of the lending syndicate contributed equal amounts ($16,176,470). 2. AidData has estimated the interest rate by adding 3.1% to the average six-month LIBOR in November 2009 (0.517%) 3. Perusahaan Gas Negara is a natural gas transportation and distribution company.