ICBC Indonesia provides IDR 60,000,000,000 credit facility to PT Bekasi Fajar Industrial Estate Tbk to support capital expenditures (linked to project ID #98601)
Commitment amount
$ 7504479.405855361
Adjusted commitment amount
$ 7504479.41
Constant 2021 USD
Summary
Funding agency [Type]
ICBC Indonesia [State-owned Commercial Bank]
Recipient
Indonesia
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On July 5, 2012, Bank of China signed an agreement with PT Bekasi Fajar Industrial Estate Tbk to provide a IDR 60,000,000,000 credit facility to support the financing of capital expenditures. The facility carries a maturity of 60 months (a final maturity of September 26, 2017), and a grace period of approximately three months (first repayment date of September 26, 2012). The facility was secured by land certificates of HGB number: 210, 34, 36, 3, 111, 120, and 135, totaling 229,693 square meters of area, located in Bekasi. At the time of signing, the facility had an interest rate of 10%, however in a letter from ICBC Indonesia on February 4, 2014, the terms of the agreement were amended to raise the interest rate to 12% for the remainder of the facility (captured via project ID #98601). A letter from ICBC Indonesia on May 14, 2014, confirmed that the entirety of the facility had been repaid in full.
Number of official sources
1
Number of total sources
1
Details
Cofinanced
No
Direct receiving agencies [Type]
PT Bekasi Fajar Industrial Estate Tbk [Private Sector]
Collateral provider [Type]
PT Bekasi Fajar Industrial Estate Tbk [Private Sector]
Collateral
The facility was secured by land certificates of HGB number: 210, 34, 36, 3, 111, 120, and 135, totaling 229,693 square meters of area, located in Bekasi.
Loan Details
Maturity
5 years
Interest rate
10.0%
Grace period
0 years
Grant element (OECD Grant-Equiv)
0.0%