Active Commercial AidData Chinese Aid

CITIC Ka Wah Bank contributes to IDR 2.889 billion tranche of dual-tranche syndicated lending facility to PT BFI Finance Indonesia for working capital purposes (linked to Record ID#98588)

$41.3K USD

Funder	China CITIC Bank International Limited (formerly CITIC Ka Wah Bank)
Recipient Organization	PT BFI Finance Indonesia TBK
Country	Indonesia
Start Date	Jun 19, 2008
End Date	Nov 06, 2031
Duration	8,540 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`98585`

Grant Description

CITIC Ka Wah Bank 2008 Dual-Tranche Dual-Currency Facility to PT BFI Finance Indonesia On June 19, 2008, a group of banks -- including CITIC Ka Wah Bank -- signed a dual-currency, dual-tranche syndicated lending facility with PT BFI Finance Indonesia. Proceeds from the facility are to be used for working capital purposes.

The facility consists of two tranches: A IDR 2.889 billion three-year amoritising credit facility, carrying an interest rate of an unknown floating rate plus 225 basis points. CITIC Ka Wah's contribution to this tranche is captured via Record ID#98585. A USD 7 million 1.5-year bullet facility, carrying an interest rate of an unknown floating rate plus 210 basis points.

CITIC Ka Wah's contribution to this tranche is captured via Record ID#98588. ANZ served as mandated lead arranger, with Standard Chartered joining as the sole bookrunner.

Other participating banks included lead arrangers CITIC Ka Wah Bank and PT Bank Rakyat Indonesia, and arranger Indian Bank.

📋 Staff Comments

AidData is able to ascertain individual contributions made to the facility by each member of the syndicate, therefore equal contributions from each lender have been assumed.
While AidData is unsure whether CITIC Ka Wah Bank contributed to both tranches, the different denominations of each tranche results in two project records being created, with the equal contribution assumption being applied to each.

📚 Sources & References

Loan week
June 13-19 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.