ICBC Indonesia provides IDR 5 billion loan facility to PT Bakrie Autoparts for working capital purposes (Linked to Project ID#98613, #98614, and #98616)

On March 7, 2012, PT Bakrie Autoparts (BA), a subsidiary of Indonesian conglomerate PT Bakrie & Brothers Tbk (BNBR), signed a loan facility with ICBC Indonesia that consists of three different loan facilities, each with separate purposes. First, the facility provides for an IDR 40 billion investment loan facility, to be used for company investments, that has a maturity of three years and carries an interest rate of 12.5%. The loan was scheduled to mature on January 28, 2015. This loan is captured via project ID #98613. Second, the facility provides for a IDR 6 billion loan facility to acquire a new unspecified machine, that has a maturity of three years and carries an interest rate of 12.5%. This loan is captured via project ID #98614. Third, the facility provides for a IDR 5 billion working capital facility to support BA's working capital needs, that has a maturity of 12 months and an interest rate of 12.5%. This loan's maturity was later extended to March 29, 2015. This loan is captured via project ID #98615. The extension of the maturity is captured via project ID #98616. All three facilities were secured by the following: land of 51,645 square meters and a 24,407.5 square meter building located in JI. Raya Bekasi KM 27, Pondok Ungu, Bekasi; all existing machinery within the BTJ factory; newly purchased machineries with a total value of IDR 7 billion; inventories of BTJ with total value of IDR 10 billion; account receivable of BTJ with total value of IDR 115 billion. PT Bakrie Tosanjaya ("BTJ") is a subsidiary of BNBR, a foundry domiciled in Bekasi. The entire facility was repaid in full as of 2015, as BA refinanced the loan facilities to PT Bank J Trust Indonesia Tbk.

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