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ICBC (Asia) Limited contributes $30 million to $200 million club loan tranche to Indonesia Eximbank for foreign trade financing purposes
| Funder | Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia)) |
|---|---|
| Recipient Organization | PT Lembaga Pembiayaan Ekspor Indonesia (LPEI) |
| Country | Indonesia |
| Start Date | Sep 22, 2015 |
| End Date | Jun 26, 2029 |
| Duration | 5,026 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 96274 |
Grant Description
ICBC Indonesia, ICBC (Asia) Limited, and CMB Wing Lung Bank contributions to 500 million USD syndicated loan to Indonesia Eximbank for foreign trade financing purposes On September 22, 2015, Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank or LPEI) — an Indonesia state-owned bank — signed a $500 million loan (borrowing facility) agreement with CMB Wing Lung Bank, Industrial and Commercial Bank of China (Asia) Limited (also known as ICBC (Asia) Limited), and Bank ICBC Indonesia (also known as ICBC Indonesia) to support foreign trade financing activities in Indonesia.
ICBC Indonesia acted as the facility agent, while ICBC (Asia) Limited served as the lead arranger.
The loan consisted of two tranches: a $200 million tranche with three participants (ICBC Indonesia, ICBC (Asia) Limited, and CMB Wing Lung Bank) and a $300 million tranche with two participants (ICBC Indonesia and ICBC (Asia) Limited).
ICBC Indonesia contributed $150 million, ICBC (Asia) Limited contributed $30 million, and Wing Lung HK contributed $20 million to the $200 million tranche.
ICBC Indonesia contributed $270 million and ICBC (Asia) Limited contributed to the $30 million to the $300 million tranche.
The lender fully disbursed the $200 million tranche on September 29, 2015 and it fully disbursed the $300 million tranche on November 19, 2015.
The final maturity dates of these two borrowings (tranches) were September 29, 2020 and November 19, 2020, respectively. Both borrowings (tranches) were fully repaid.
Sources & References
- Indonesia Eximbank Gets US $580mn Foreign Loans from Two Financial Institutions
- Annual Report 2020 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 Lembaga Pembiayaan Ekspor Indonesia (LPEI)
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