Active Mixed AidData Chinese Aid

ICBC participates in $470 million USD loan to PT Triputra Agro Persada for expanding oil plam plantations

$33.57M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	PT Triputra Agro Persada Tbk (TAP)
Country	Indonesia
Start Date	Aug 01, 2013
End Date	Nov 25, 2030
Duration	6,325 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`96662`

Grant Description

ICBC contributions to USD 470 million syndicated loan for PT Triputra Agro Persada fpr oil plam plantations plantation In August 2013, PT Triputra Agro Persada (TAP) entered into a $470 million USD syndicated loan with 14 foreign and local banks to partly finance its expansion of the company's oil palm plantations.

DBS and HSBC are the co-leaders of the syndicate which also includes T Bank Permata Tbk, PT Bank CIMB Niaga Tbk, PT Bank DKI, PT Indonesia Eximbank, PT Bank OCBC NISP Tbk, and PT QNB Kesawan Tbk, ANZ, ICBC, OCBC, Standard Chartered, UOB, and Rabo bank.

About $270 million USD of this loan will be used for plantations, like land clearing, infrastructure, seeds, electricity, and staff housing. The other $200 mullion will be used to refinance the TAP's loan.

📋 Staff Comments

1. Individual contributions from the 14 banks to the loan are unclear. Aiddata assumes equal contribution from all banks ($33,571,428.6).

📚 Sources & References

Triputra receives US$470 million syndicated credit from 14 banks.
Triputra secures loan to finance expansion 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.