Active Commercial AidData Chinese Aid

ICBC Indonesia contributes IDR 295 billion to a IDR 661 billion syndicated loan to an Indonesian corrugated paper manufacturer

$21.07M USD

Funder	PT Bank ICBC Indonesia
Recipient Organization	Unspecified Indonesian corrugated paper manufacturer
Country	Indonesia
Start Date	Jan 01, 2013
End Date	May 04, 2027
Duration	5,236 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`66284`

Grant Description

ICBC Indonesia contributes IDR 295 billion to a IDR 661 billion syndicated loan to an Indonesian corrugated paper manufacturer In 2013, ICBC Indonesia and Permata Bank participated in a IDR 661 billion syndicated loan agreement with an Indonesian company that was a market leader in corrugated paper manufacturing.

ICBC Indonesia acted as the Security Agent and contributed IDR 295 billion to the loan syndicate.

📋 Loan / Grant Terms

💰 Loan Amountand the implementation status of the project are unknown

📋 Staff Comments

AidData has coded this transaction as a collateralized loan because ICBC Indonesia was selected as the security agent (i.e. collateral agent) for the loan. When lenders take collateral as security for their loans, a collateral/security agent is often appointed to enforce rights against the collateral in the event of the borrower’s default under the loan.
This loan should not be confused with ICBC loans made to two other paper manufacturers in 2014 and 2015, respectively (captured in Project ID#66278 and ID#66279).
The specific Indonesian market leader in corrugated paper manufacturing that received the loan is unknown.

📚 Sources & References

Annual Report 2013 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.