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Overview

Bank of China contributes $3 million USD to $33 million USD revolver tranche of $90.38 million USD syndicated multi-currency loan to PT Mitra Adiperkasa Tbk

Commitments (Constant USD, 2023)$4,984,694
Commitment Year•2007Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jun 1, 2007
Last repayment (originally scheduled)
May 31, 2010

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 ownership

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • PT Bank Danamon Indonesia Tbk

State-owned Banks

  • PT Bank Internasional Indonesia, Tbk. (BII)

Receiving agencies

Private Sector

  • PT Mitra Adiperkasa

Loan description

BOC contributions to 90.38 million USD syndicated loan to PT Mitra Adiperkasa Tbk

Grant element•2.4788%Interest rate (t₀)•7.89%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•3 years

Narrative

Full Description

Project narrative

In June 2007, PT Mitra Adiperkasa - a retail company managing over 600 stores in Indonesia - signed a $90.38 million three-year multi-currency loan with a syndicate of lenders. The facility is split into a ¥6.954 billion JPY term loan and a $33 million USD revolver. Both tranches carried a maturity period of three years and an interest rate of 7.893% (average 6-month LIBOR + 250 basis points). For the yen tranche, Mizuho lent ¥1.83 billion, ABN Amro and Standard Chartered each contributed ¥1.22 billion, Bank of Tokyo-Mitsubishi UFJ provided ¥976 million, Sumitomo Mitsui Banking Corp lent ¥488 million, Bank of Baroda and Krung Thai Bank each provided ¥366 million, and Bank of Taiwan and Indian Bank lent ¥244 million each. For the US dollar tranche, Bank Negara provided $15 million, Bank Danamon Indonesia lent $10 million, Bank Internasional Indonesia provided $5 million and Bank of China provided $3 million.

Staff comments

1. This loan carried a 2.42% interest rate (AidData calculated the interest rate as follows: 5.393% [average 6-month LIBOR in June 2007] + 2.50% [250 basis points] = 7.893%).