ICBC Indonesia adjusts lending terms of IDR 60,000,000,000 credit facility to PT Bekasi Fajar Industrial Estate Tbk to support capital expenditures (linked to Record ID#98600)

Project narrative

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 Record ID#98601). A letter from ICBC Indonesia on May 14, 2014, confirmed that the entirety of the facility had been repaid in full.