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Overview

Bank of China (Jakarta Branch) contributes to a $670 million syndicated loan to Astra Sedaya Finance for general corporate purposes

Commitments (Constant USD, 2023)$15,383,298
Commitment Year•2014Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•IndonesiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Apr 1, 2014

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownershipAt least 25% Chinese ownership

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Aozora Bank, Ltd.
  • Bank of the Philippine Islands
  • Barclays Bank PLC
  • Chang Hwa Commercial Bank Limited
  • Citibank, N.A.
  • CTBC Bank (formerly Chinatrust Commercial Bank)
  • DBS Bank Ltd.
  • First Commercial Bank Limited
  • Fuyo General Lease Co., Ltd.
  • Gunma Bank
  • Malayan Banking Berhad (Maybank)
  • Mega International Commercial Bank Co., Ltd. (formerly International Commercial Bank of China)
  • Mizuho Bank, Ltd.
  • Mizuho Leasing Company, Limited (formerly IBJ Leasing Company, Limited)
  • MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
  • RHB Bank Berhad
  • SBI Shinsei Bank, Limited
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • Sumitomo Mitsui Trust Bank, Limited (SMTB)
  • The Chugoku Bank, Ltd.
  • United Overseas Bank Limited (UOB)
  • Westpac Banking Corporation

State-owned Banks

  • Bank of Taiwan
  • CIMB Bank Berhad
  • Export-Import Bank of the Republic of China, Taipei
  • Korea Development Bank (KDB)
  • National Bank of Abu Dhabi PJSC (NBA)
  • Royal Bank of Scotland (RBS)
  • State Bank of India (SBI)

Receiving agencies

Private Sector

  • PT Astra Sedaya Finance (ASF)

Loan description

Bank of China branch contributions to a $670 million syndicated loan to Astra Sedaya Finance for general corporate purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In April 2014, a syndicate of 31 lenders — including the Jakarta Branch and the Hong Kong Branch of the Bank of China (BOC) — entered into a $670 million USD syndicated loan agreement with PT Astra Sedaya Finance (ASF) — an Indonesian consumer financing and car and motorcycle leasing company part of Indonesian conglomerate PT Astra International Tbk that is 50.01% owned Jardine Matheson Holdings Limited (also known as Jardines), a Hong Kong-based Bermuda-domiciled British multinational conglomerate — for general corporate purposes. BOC Jakarta and Hong Kong contributed a combined $30 million USD. In addition to BOC, the following lenders contributed the respective amounts to the loan syndicate: the Bank of Tokyo Mitsubishi UFJ, Ltd. (BTMU) ($30 million USD), Citibank N.A. ($30 million USD), CTBC Financial Holding ($30 million USD), CIMB Bank Berhad ($30 million USD), DBS Bank ($30 million USD), Korea Development Bank (KDB) ($30 million USD), Maybank Banking Berhad ($30 million USD), Mizuho Bank ($30 million USD), Royal Bank of Scotland (RBS) ($30 million USD), Sumitomo Mitsui Banking Corporation (SMBC) ($30 million USD), United Overseas Bank Limited (UOB) ($30 million USD), Shinsei Bank ($30 million USD), Sumitomo Mitsui Trust Bank (SMTB) ($20 million USD), Aozora Bank ($10 million USD), Gunma Bank ($10 million USD), IBJ Leasing ($10 million USD), Chugoku Bank ($5 million USD), Fuyo General Lease Co ($5 million USD), the Bank of the Philippines Islands ($50 million USD), National Bank of Abu Dhabi (NBA) ($30 million USD), RHB Bank Berhad ($30 million USD), Westpac Banking Corporation ($30 million USD), Barclays Bank ($20 million USD), State Bank of India (SBI) ($15 million USD), Bank of Taiwan ($10 million USD), Chang Hwa Commercial Bank ($10 million USD), First Commercial Bank ($10 million USD), Mega International Commercial Bank ($10 million USD), and the Export-Import Bank of the Republic of China ($5 million USD). Syndication was launched in mid-February 2014 at $330 million USD but was increased to $670 million USD due to oversubscription. BTMU, Citibank, CTBC, CIMB, DBS, KDB, Maybank, Mizuho, RBS, SMBC, and UOB served as the original mandated lead arrangers and bookrunners.