ICBC participates in $125 million USD syndicated loan to Bank Ekspor Indonesia (BEI)
Commitment amount
$ 37550251.2068698
Adjusted commitment amount
$ 37550251.21
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Indonesia
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
No
Category
Project lifecycle
Description
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.
Additional details
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).
Number of official sources
0
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
The Bank of Tokyo-Mitsubishi, Ltd. (BTM) [Private Sector]
Intesa Sanpaolo S.P.A. [Private Sector]
Oversea-Chinese Banking Corporation, Limited (OCBC Bank) [Private Sector]
Sumitomo Mitsui Banking Corporation [Private Sector]
Direct receiving agencies [Type]
PT Lembaga Pembiayaan Ekspor Indonesia (LPEI) [State-owned Bank]
Loan Details
Maturity
1 years
Interest rate
3.1%
Grant element (OECD Grant-Equiv)
3.1266%