PT Bank ICBC Indonesia signs loan agreement with PT Medco Energi Internasional Tbk (MedcoEnergi) in February 2011 to roll over working capital credit facility
Commitment amount
$ 12298801.813412774
Adjusted commitment amount
$ 12298801.81
Constant 2021 USD
Summary
Funding agency [Type]
ICBC Indonesia [State-owned Commercial Bank]
Recipient
Indonesia
Sector
Action relating to debt (Code: 600)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In February 2011, PT Bank ICBC Indonesia signed a loan agreement with PT Medco Energi Internasional Tbk (MedcoEnergi). The loan proceeds were to be used to roll over a matured working capital credit facility amounting to $10 million USD. The terms of the loan and its allocation to “roll over” another facility suggests that ICBC may have refinanced or extended the maturity of an older loan provided in 2010. While confirmation of this older loan is unavailable, it is likely that ICBC provided an earlier loan and the facility captured in this project has refinancing/extension purposes. The loan is unsecured and will mature on February 25, 2012. Other borrowing terms of the loan are unknown.
Additional details
1. AidData has inferred the existence of the 2010 loan as ICBC rolled it over.
Number of official sources
2
Number of total sources
2
Details
Cofinanced
No
Direct receiving agencies [Type]
PT Medco Energi Internasional Tbk [Private Sector]