Project ID: 98398

PT Bank ICBC Indonesia provides loan to PT Medco Energi Internasional Tbk for purchase of Rig. 8 in December 2012

Summary

Funding agency [Type]

Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]

Recipient

Indonesia

Sector

Industry, mining, construction (Code: 320)

Flow type

Loan

Level of public liability

Private debt

Infrastructure

No

Category

Intent

Commercial (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2012-12-01

Description

In December 2012, PT Bank ICBC Indonesia provided a loan to PT Medco Energi Internasional Tbk for the purchase of Rig 8. The loan amount is unspecified. Loan repayment was due in 21 monthly installments from 2012 to 2014. This loan was also collateralized by 1 unit of heavy equipment 450 HP Rig and receivables from the use of heavy equipment. Other borrowing terms of the loan are unknown.

Number of official sources

1

Number of total sources

1

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Details

Cofinanced

No

Direct receiving agencies [Type]

PT Medco Energi Internasional Tbk [Private Sector]

Collateral

Collateralized by 1 unit of heavy equipment 450 HP Rig and receivables from the use of heavy equipment

Loan Details

Bilateral loan