ICBC provides a IDR 20 billion loan in July 2011 to PT MNC Finance for working capital purposes
Commitment amount
$ 2803339.345097359
Adjusted commitment amount
$ 2803339.35
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
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On July 4, 2011, PT Bank ICBC Indonesia entered into a IDR 20,000,000,000 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 working capital purposes. This was a fixed investment loan that carried a maturity period of three years and it was secured by (i.e. collateralized against) consumer financing receivables and finance lease receivables equivalent to 120% of the outstanding loan balance. As of December 31, 2012, IDR 10,714,510,000 was outstanding under the loan. As of December 31, 2013, IDR 3,983,542,000 was outstanding under the loan. This loan was repaid in 2014.
Number of official sources
3
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
PT MNC Finance (MNCF) [Private Sector]
Collateral provider [Type]
PT MNC Finance (MNCF) [Private Sector]
Collateral
This loan was secured by consumer financing receivables and finance lease receivables equivalent to 120% of the outstanding loan balance.
Loan Details
Maturity
3 years