Active Mixed AidData Chinese Aid

ICBC provides RMB 2 billion loan to PT Bakrie Telecom Tbk to finance its capital expenditures

¥2M RMB

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	PT Bakrie Telecom Tbk (BTel)
Country	Indonesia
Start Date	Aug 12, 2010
End Date	Jul 19, 2029
Duration	6,916 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`96409`

Grant Description

ICBC provides RMB 2 billion loan to PT Bakrie Telecom Tbk to finance its capital expenditures On August 12, 2010, ICBC, Huawei Technologies Co., Ltd., and PT Bakrie Telecom Tbk (BTel) signed an RMB 2 billion export credit facility agreement to finance BTel’s ongoing capital expenditures (capex).

📋 Loan / Grant Terms

💰 Loan Amountcarried a 5-year maturity and a 4

📅 Maturity5 years

💹 Interest Rate4.6%

The borrower (BTel) was expected to use the loan proceeds to finance up to 85% of the cost of its commercial contracts with Huawei Technologies Co., Ltd.

However, under the terms of the facility agreement, any non-utilized commitment amount at the end of a 2-year availability period was to be irrevocably cancelled. As of August 12, 2012, BTel had still not used the export credit facility.

📋 Staff Comments

1. PT Bakrie Telecom Tbk is an Indonesia-based telecommunication services provider. The company provides fixed digital radio cellular telecommunication network and services. Its services include fixed wireless access using extended-time division multiple access (E-TDMA) technology, which is a limited mobility service using code division multiple access (CDMA) 2000 1x technology. The Company's products consist of Esia, Wifone, Wimode, EsiaTel, SLI Hemat 009 and AHA (Affordable High-speed Access). The company has base transceiver station (BTS), call centers, Gerai Esia and dealers and outlets throughout Indonesia. Its subsidiaries include PT Bakrie Connectivity, which is engaged in telecommunication trading; PT Bakrie Network, which is engaged in provision of telecommunication infrastructure, and Bakrie Telecom Pte Ltd., which is a special purpose entity.

📚 Sources & References

Bakrie agrees Chinese funding deal
Bakrie Telecom invests US$ 110 million.
Bakrie Telecom 9M10 RESULTS
China raises stakes in Indonesia
Consolidated Financial Statements with Independent Auditors' Report For the Years Ended December 31, 2010 and 2009
HERBERT SMITH LEVERAGES LONG-TERM RELATIONSHIPS FOR RMB-DENOMINATED TELCO LOAN
PT BAKRIE TELECOM Tbk AND SUBSIDIARIES
Asian Legal Business (North Asia) Oct 2010
GETTING READY FOR THE FUTURE
Zhong Lun Advises ICBC on RMB5m offshore loan to Indonesia Bakrie Telecom
China Monthly Newsletter September 2010 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 Bakrie Telecom Tbk (BTel)

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