Bank of China contributes to USD 250 million syndicated bridging loan facility to PT SMI to support business operations

On March 20, 2020, a group of five banks -- including Bank of China, Jakarta branch -- signed a USD 250 million syndicated bridging loan facility with PT Sarana Multi Infrastruktur (Persero) (PT SMI), a special mission vehicle under the Indonesian Ministry of Finance responsible for financing and preparing infrastructure projects. The facility has a six month maturity and carries an interest rate of LIBOR plus an unknown margin. Proceeds from the facility will be used to support PT SMI's operations until the company's syndication of a new USD-denominated loan facility. As of June 30, 2020, USD 249.98 million was outstanding. The loan was repaid in full at some point in 2020. MUFG served as coordinator for the facility. Joining the syndicate was UOB Indonesia, Standard Chartered Bank (Jakarta), Bank CTBC Indonesia, and Bank of China (Jakarta branch).

Additional details

1. AidData is unable to ascertain the individual contributions made to the facility by each member of the syndicate, therefore equal contributions from each lender have been assumed (250/5). 2. Given the facility's non-exclusion from future financial statements and PT SMI's successful syndication of a new, USD 700 million facility in September 2020, AidData has assumed that the bridge facility was repaid in full at some point during 2020.

Number of official sources

2

Number of total sources

2