ICBC provides an IDR 30 billion loan to PT MNC Finance for unspecified purposes (Linked to Project ID#98364)

On May 21, 2013, PT Bank ICBC Indonesia entered into a IDR 30,000,000,000 loan agreement with PT MNC Finance (MNCF) — an Indonesian company focused on consumer financing that is 99.99% owned by PT MNC Kapital Indonesia Tbk, an Indonesian financial service provider — for unspecified purposes. This loan carried a maturity period of three years, a final maturity of May 27, 2016, and an interest rate of 11.00% per annum. This loan was secured by (i.e. collateralized against) consumer financing receivables and financing lease receivables equivalent to 120% of the outstanding loan balance. Project ID#98355 captures the loan. As of December 31, 2013, IDR 25,000,000,000 was outstanding under this loan. As of December 31, 2014, IDR 14,919,000,000 was outstanding under this loan. As of December 31, 2015, IDR 5,000,000,000 was outstanding under this loan. Then, in 2016, ICBC extended the maturity period of the loan by one year, to May 27, 2017. Project ID#98364 captures the extension. Then, later in 2016, the borrower fully repaid the loan.

Number of official sources

5

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5