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ICBC Indonesia contributes IDR 500 billion to syndicated loan for palm oil and rubber plantation company in Indonesia
| Funder | PT Bank ICBC Indonesia |
|---|---|
| Recipient Organization | PT Perkebunan Nusantara V |
| Country | Indonesia |
| Start Date | Apr 11, 2017 |
| End Date | Mar 16, 2032 |
| Duration | 5,453 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 66269 |
Grant Description
ICBC contributions to IDR 4.86625 trillion syndicated loan to PT Perkebunan Nusantara V for working capital purposes.
On April 11, 2017, PT Perkebunan Nusantara V — a state-owned palm oil and rubber plantation company — signed a IDR 4.86625 trillion syndicated loan agreement with six banks (including ICBC Indonesia, Bank Mandiri, Bank BCA, Maybank Indonesia, Indonesian Eximbank, and PT Bank Riau Kepri).
Its interest rate is unknown. ICBC Indonesia contributed IDR 500 billion to the loan syndicate. Bank Mandiri was the Mandated Lead Arranger (MLA).
The proceeds of the loan were provided to the borrower in three tranches for three separate purposes: an IDR 2.22 trillion tranche to pay off the company’s existing loans, and IDR 2.143 trillion tranche to finance investment projects, and an IDR 500 billion tranche for working capital purposes.
Sources & References
- Annual Report 2017
- PTPN V TEKEN KREDIT SINDIKASI RP 4,86 TRILIUN
- Rancangan Awal 23 Agustus 2019
- Enam Bank Berikan Kredit Sindikasi Rp4,86 Triliun Untuk PTPN V
- State-owned enterprises of Indonesia 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.
All Grantees
PT Perkebunan Nusantara V
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