Active Commercial AidData Chinese Aid

ICBC contributes $7 million to syndicated loan for Astra International for refinancing and general corporate purposes

$7M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	PT Astra International Tbk
Country	Indonesia
Start Date	Nov 05, 2004
End Date	Jan 22, 2032
Duration	9,939 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`104772`

Grant Description

ICBC contributions to USD 170 million and IDR 6 billion syndicated loan for Astra International for refinancing and general corporate purposes On November 5, 2004, Astra International signed a $170 million and IDR 6 billion syndicated facility agreement with a group of 16 Chinese and non-Chinese banks.

The US dollar tranche was syndicated to banks and the rupiah (IDR) tranche was provided equally by the coordinating arrangers on a club basis.

Coordinating arrangers included Sumitomo Mitsui Banking Corp holding $20 million, BNP Paribas, HSBC and Standard Chartered Bank lending $15 million each and ABN Amro and Citigroup taking $4 million apiece.

Arrangers included Mizuho Corporate Asia (HK) and Oversea-Chinese Banking Corp with tickets of $15 million each, United Overseas Bank committing $12 million, HVB Corporates & Markets contributing $10 million and DBS Bank and Standard Bank Asia contribution $8.5 million apiece.

Co-arrangers included Bumiputra-Commerce Bank, Chinatrust Commercial Bank (Offshore Banking)/PT Bank Chinatrust, Industrial & Commercial Bank of China (ICBC) and UFJ Bank with contributions of $7 million each.

The borrower was expected to use the proceeds of the loan to refinance the its existing borrowings and meet general corporate funding requirements.

📋 Loan / Grant Terms

💰 Loan Amountcarried a 3-year maturity and an interest rate of Singapore Interbank Offered Rate (SIBOR) plus a 2

📅 Maturity3 years

📋 Staff Comments

1. For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.

📚 Sources & References

Loans round-up
JP/Astra obtains loans from foreign banks Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.