Skip to content
AidData logo

Overview

ICBC participates in $125 million USD syndicated loan to Bank Ekspor Indonesia (BEI)

Commitments (Constant USD, 2023)$34,682,944
Commitment Year•2009Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jun 1, 2009
Last repayment (originally scheduled)
Jun 1, 2010

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

  • Intesa Sanpaolo S.P.A. (formerly Cariplo/Banca Intesa/BCI)
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • The Bank of Tokyo-Mitsubishi, Ltd. (BTM)

Receiving agencies

State-owned Banks

  • PT Lembaga Pembiayaan Ekspor Indonesia (LPEI)

Loan description

ICBC contributions to USD 125 million syndicated loan for refinancing a 2008 loan and trade finance

Grant element•3.1266%Interest rate (t₀)•3.1%Interest type•Fixed Interest RateMaturity•1 years

Narrative

Full Description

Project narrative

In June 2009, ICBC agreed to contribute to the $125 million USD syndicated loan to Indonesian state-backed Bank Ekspor Indonesia (BEI). Other arrangers of the loan include Bank of Tokyo-Mitsubishi UFJ, Intesa Sanpaolo, OCBC, and Sumitomo Mitsui Banking Corp. Proceeds were for refinancing a 2008 loan and for trade finance. This loan carried a maturity period of one year and an interest rate of 3.1%. As of June 2009, the loan was in the market and not closed. The loan may have been up-sized, down-sized, or [unlikely] canceled.

Staff comments

1. This loan carried a 3.1% interest rate (AidData calculated the interest rate as follows: 1.1% [average 6-month LIBOR in 2009] + 2% [200 basis points] = 3.1%). 2. Since the amount that each actor contributed is unknown, Aiddata assumes each contributed equally ($25 million).