Narrative
Full Description
Project narrative
Circa October 30, 2017, a syndicate of 14 banks — including the Industrial and Commercial Bank of China (ICBC) and Bank of China (BOC) — committed to a $250 million USD syndicated loan to PT Saka Energi Indonesia — the upstream oil and gas arm of Indonesian state-owned Perusahaan Gas Negara — for refinancing purposes. The deal was to formally sign in the first week of November 2017. The loan carried a variable interest rate margin based on LIBOR plus a margin. ICBC and BOC each contributed $15 million USD to the loan syndicate as lead arrangers. Record ID#98583 captures ICBC's contribution. Record ID#98584 captures BOC's contribution. Among the six mandated lead arrangers, BNP Paribas and Sumitomo Mitsui Banking Corp committed $35 million USD each, with BNP splitting its portion between its Indonesian branch, which took $25 million USD, and the Singapore branch, which took $10 million USD. Citibank contributed $30 million USD and DBS, Mizuho and HSBC each took $25 million USD. Overseas Chinese Banking Corporation committed $15 million USD as lead arranger. At the lead manager level five banks participated: Intesa Sanpaolo and Taipei Fubon Commercial Bank committed $7 million USD each; CTBC Bank and State Bank of India committed $6 million USD each; and Shanghai Commercial Bank and Savings Bank committed $4 million USD.