Overview

PT Bank ICBC Indonesia provides $10.9 million USD loan to PT Medco Energi Internasional Tbk in February 2013

Commitments (Constant USD, 2023)$11,270,287

Commitment Year•2013Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•IndonesiaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Feb 1, 2013

Last repayment (originally scheduled): Feb 25, 2014

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

PT Bank ICBC Indonesia

Receiving agencies

Private Sector

PT Medco Energi Internasional Tbk

Loan description

PT Bank ICBC Indonesia provides $10.9 million USD loan to PT Medco Energi Internasional Tbk in February 2013

Interest type•Unknown

Narrative

Full Description

Project narrative

In February 2013, PT Bank ICBC Indonesia signed a credit agreement with PT Medco Energi Internasional — an Indonesian oil and gas company — amounting to $10.9 million USD. The purpose of this loan was to roll over a matured working capital credit facility. The initial facility was refinanced in 2011 (captured in Record ID#98436) and again in 2012 (captured in Record ID#98479). The new facility captured in this project was expected to mature on February 25, 2014. The borrowing terms of the loan are unknown.