CDB contributes to IDR 1.034 trillion syndicated loan tranche to help Protelindo repay debts and cover other fees and expenses (Linked to Record ID#66473, #73277, #92460)

CDB and BOC contributions to dual-currency tranche syndicated loan for Protelindo for debt repayments and to cover other fees and expenses On May 27, 2010, PT Profesional Telekomunikasi Indonesia (“Protelindo”) — a subsidiary of the Indonesian state-owned telecommunications company PT Sarana Menara Nusantara Tbk — entered into a syndicated loan agreement with a group of 8 lenders.

Participants in the loan syndicate included DBS Bank Ltd., Oversea-Chinese Banking Corporation Limited, Standard Chartered Bank, The Royal Bank of Scotland N.V., Singapore Branch, PT Bank Central Asia Tbk., (“BCA”), PT Bank DBS Indonesia, PT Bank OCBC Indonesia, and Standard Chartered Bank, Jakarta Branch.

The loan had two tranches: a $375,000,000 tranche and an IDR 926,900 million tranche. On August 13, 2010, these two tranche amounts were amended to $363 million and IDR 1,034 billion, respectively.

The USD-denominated tranche was due to be repaid in quarterly installments from December 7, 2010 to December 7, 2013 and it carried an interest rate of LIBOR plus a 3.75% margin (or 3.25% per annum depending on the fulfillment of the financial ratios as required in the Loan Facility Agreement). The effective interest rate for the loan tranche denominated in USD fell somewhere between 3.94% and 4.33% in 2010.

The IDR (rupiah)-denominated tranche was due to be repaid in quarterly installments from December 7, 2010 to December 7, 2013 and it carried an interest rate of JIBOR (May 2010 6-Month average = 6.87%) plus a margin of 3.75% (or 3.25% per annum depending on the achievement of the financial ratios as required in the Loan Facility Agreement).

The effective interest rate for the loan tranche denominated in IDR fell somewhere between 10.28% to 10.70% in 2010.

On August 13, 2010, Protelindo amended the syndication agreement with additional lenders, including Bank of China (BoC) and China Development Bank (CDB). Record ID#66473 and #92460 capture BoC and CDB’s participation in the $363 million tranche. Record ID#73277 and #92459 capture BoC and CDB’s participation in the IDR 1,034,540,000 tranche.

However, the respective financial contributions of the BoC and the CDB to these two tranches are unknown.

The proceeds of the loan were to be used by the borrower (Protelindo) to repay the company's debt and other fees and expenses. On December 19, 2012, Protelindo fully repaid the May 27, 2010 loan facility signed with the original lenders.

The original lenders were DBS Bank Ltd., Oversea-Chinese Banking Corporation Limited, Standard Chartered Bank, The Royal Bank of Scotland N.V., Singapore branch, PT Bank Central Asia Tbk., PT Bank DBS Indonesia, PT Bank OCBC Indonesia and Standard Chartered Bank, Jakarta branch. The additional lenders included BoC, CDB, Chinatrust Commercial Bank.

Co, Ltd., Singapore branch, PT Bank Mizuho Indonesia, PT Bank Negara Indonesia (Persero), Tbk., Singapore branch, PT Bank Panin Tbk., PT Bank Sumitomo Mitsui Indonesia, Sumitomo Mitsui Banking Corporation, Singapore branch, PT Bank Chinatrust Indonesia, PT Bank Danamon Indonesia, Tbk., and PT Bank OCBC NISP Tbk.

Based on a Transfer Certificate dated March 9, 2011 between Standard Chartered Bank Jakarta Branch and Bank of China Jakarta Branch, the former assigned and transferred a partial interest in the May 27, 2010 Loan Facility to the latter in the amount of $15,000,000.