Overview

PT Bank ICBC Indonesia signs loan agreement with PT Medco Energi Internasional Tbk for financing purposes in February 2014

Commitments (Constant USD, 2023)$51,277,659

Commitment Year•2014Country 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 11, 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 signs loan agreement with PT Medco Energi Internasional Tbk for financing purposes in February 2014

Interest type•Unknown

Narrative

Full Description

Project narrative

On February 11, 2014, PT Bank ICBC Indonesia signed a loan agreement with PT Medco Energi Internasional Tbk, an Indonesian oil and gas company. In this agreement, an original $10 million USD working capital facility (captured in Record ID#98436, Record ID#98479, and Record ID#98487) was up-sized to a $50 million USD facility with a three-year maturity. The loan proceeds will be used for general financing purposes for the years 2014 - 2016. The loan was to mature three years after the first withdrawal.