Bank of China contributes to a $700 million syndicated loan to Pertamina for capital expenditure and general corporate purposes

Project narrative

In June 2010, a syndicate of 23 banks — including the Bank of China (BOC) — signed a $700 million USD syndicated term loan agreement with PT Pertamina (Persero) — an Indonesian state-owned oil and natural gas corporation — for capital expenditure and general corporate purposes. This loan carried a maturity period of five years. The proceeds were to be used by the borrower for capital expenditure and general corporate purposes. In addition to BOC, the following lenders contributed to the loan syndicate: Australia and New Zealand Banking Group (ANZ), BNP Paribas S.A., HSBC Bank, Royal Bank of Scotland (RBS), Bank of Central Asia (BCA), Bank DBS Indonesia, Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), Bank Pan Indonesia, Natixis, Société Générale S.A. (SocGen), State Bank of India (SBI), Sumitomo Mitsui Banking Corporation (SMBC), Bank Mizuho Indonesia, First Commercial Bank, First Gulf Bank (FGB), Intesa Sanpaolo S.p.A., Bank Chinatrust Indonesia, Bank OCBC NISP, Mega International Commercial Bank, Taishin International Bank, Taiwan Cooperative Bank, and Union de Banques Arabes et Francaises (UBAF). ANZ, BNP Paribas, HSBC, and RBS served as bookrunners and mandated lead arrangers. BOC, BCA, Bank DBS Indonesia, BTMU, Bank Pan Indonesia, Natixis, SocGen, SBI, and SMBC joined in syndication as mandated lead arrangers. Bank Mizuho Indonesia joined in syndication as a lead arranger. First Commercial Bank, FBG, and Intesa Sanpaolo joined in syndication as arrangers. Bank Chinatrust Indonesia, Bank OCBC NISP, Mega International Commercial Bank, Taishin International Bank, Taiwan Cooperative Bank, and UBAF joined in syndication as lead managers.