ICBC participates in $125 million USD syndicated loan to Bank Ekspor Indonesia (BEI)

$25M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	PT Lembaga Pembiayaan Ekspor Indonesia (LPEI)
Country	Indonesia
Start Date	Jun 01, 2009
End Date	Jan 05, 2029
Duration	7,158 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`98321`

Grant Description

ICBC contributions to USD 125 million syndicated loan for refinancing a 2008 loan and trade finance In June 2009, ICBC agreed to contribute to the $125 million USD syndicated loan to Indonesian state-backed Bank Ekspor Indonesia (BEI).

Other arrangers of the loan include Bank of Tokyo-Mitsubishi UFJ, Intesa Sanpaolo, OCBC, and Sumitomo Mitsui Banking Corp. Proceeds were for refinancing a 2008 loan and for trade finance.

📋 Loan / Grant Terms

💰 Loan Amountcarried a maturity period of one year and an interest rate of 3

As of June 2009, the loan was in the market and not closed. The loan may have been up-sized, down-sized, or [unlikely] canceled.

📋 Staff Comments

This loan carried a 3.1% interest rate (AidData calculated the interest rate as follows: 1.1% [average 6-month LIBOR in 2009] + 2% [200 basis points] = 3.1%).
Since the amount that each actor contributed is unknown, Aiddata assumes each contributed equally ($25 million).

📚 Sources & References

Bank Ekspor seeks $125m amid Indonesian bank fears 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.