JAKARTA-
Indonesia's largest bank, Bank Mandiri, was appointed to lead a syndication credit, worth 490 million U.S. dollars, for PT Pupuk Kalimatan Timur (Pupuk Kaltim),the country's biggest fertilizer manufacturer, local media detikcom reported on Monday.
The fund is aimed to refinance construction of Kaltim-5 project with capacity of 2,500 Metric Tons per Day (MTPD) of ammonia and 3,500 MTPD of urea in Bontang of West Kalimantan, Agus Martowardojo, the bank's president director, was quoted by the report as saying.
The total investment for the project is 700 million U.S. dollars, according to the report.
"The syndication credit is expected to be an important momentum to support government program of fertilizer company revitalization for the sake of the country's food resilience," said Agus here.
He said that local and foreign banks have expressed their intention to participate in the syndication.
There is an annual demand of 10 million tons of fertilizer in the country, however, the domestic companies can only produce 7 million tons a year.
The Pupuk Kaltim's president director Hidayat Nyakman said the project is one effort to increase Indonesia's fertilizer production capacity. The project will replace the aging and inefficient Kaltim -1.
Hidayat said that of the total investment of 700 million, his company expects 70 percent (490 million dollars) from banking finance and the rest (210 million dollars) from its internal fund.
Showing posts with label Syndication. Show all posts
Showing posts with label Syndication. Show all posts
Tuesday, September 15, 2009
Tuesday, August 25, 2009
BANK MANDIRI LED SYNDICATE TO PROVIDE TELKOM US$555 MLN LOAN
JAKARTA-
Indonesia's largest lender in asset Bank Mandiri (JSX:BMRI) is leading a bank syndicate to provide a Rp5.55 trillion (US$555 million) loan for state telecommunication company PT Telkom (JSX:TLKM).
Other members of the syndicate are PT Bank Central Asia (BCA) (JSX:BBCA), PT Bank Negara Indonesia (BNI) (JSX:BBNI) and PT Bank Rakyat Indonesia (BRI) (JSX:BBRI).
BCA and Bank Mandiri will provide the largest part of Rp2 trillion each with BRI and BNI to contribute Rp800 billion and Rp750 billion respectively, the newspaper Investor Daily said.
Banking sources told the paper an agreement will be signed soon, but an official of Bank Mandiri refused to confirm.
PT Telkom will use the fund as part of its capital spending of Rp15 trillion set for this year, the source added.
Indonesia's largest lender in asset Bank Mandiri (JSX:BMRI) is leading a bank syndicate to provide a Rp5.55 trillion (US$555 million) loan for state telecommunication company PT Telkom (JSX:TLKM).
Other members of the syndicate are PT Bank Central Asia (BCA) (JSX:BBCA), PT Bank Negara Indonesia (BNI) (JSX:BBNI) and PT Bank Rakyat Indonesia (BRI) (JSX:BBRI).
BCA and Bank Mandiri will provide the largest part of Rp2 trillion each with BRI and BNI to contribute Rp800 billion and Rp750 billion respectively, the newspaper Investor Daily said.
Banking sources told the paper an agreement will be signed soon, but an official of Bank Mandiri refused to confirm.
PT Telkom will use the fund as part of its capital spending of Rp15 trillion set for this year, the source added.
Friday, July 31, 2009
Indonesia's Pertamina signs $700 mln capex loans
JAKARTA -
Indonesia's state oil and gas firm Pertamina signed on Friday syndicated loans worth $400 million and 3 trillion rupiah ($302.6 million) with local and foreign banks to fund upstream and downstream projects.
The dollar loan involves 16 banks, including Citigroup (C.N) unit Citibank NA, Bank of Tokyo-Mitsubishi UFJ (8306.T) and Sumitono Mitsui Banking Corporation (8316.T), a statement from local lender PT Bank Mandiri (BMRI.JK) said.
Citigroup is lead arranger for the loan.
"We believe this loan facility can speed up Pertamina's expansions and business developments in the future, in line with the strategic target set by the company," Karen Agustiawan, Pertamina's president director, said in a statement.
The $400 million loan has a maturity of three years and would pay 338 basis points above the London inter-bank offered rate (LIBOR), Pertamina Finance Director Ferederick Siahaan said.
Mandiri is lead arranger for the rupiah loan and will lend 1.25 trillion rupiah, while 750 billion comes from PT Bank Negara Indonesia (BBNI.JK), 500 billion rupiah from PT Bank Rakyat Indonesia (BBRI.JK) and 500 billion from PT Bank Central Asia (BBCA.JK).
Siahaan told reporters Pertamina planned to spend 22 trillion rupiah on capital expenditure in 2009, with 65 percent allocated for upstream activities and 35 percent for downstream. The firm is estimated to have invested 17 trillion rupiah in 2008.
"There are many Pertamina projects that need to be financed, including upstream and downstream. Upstream projects include Cepu and the offshore North West Java block," he said.
Pertamina has a 45 percent stake in the Cepu block in East Java, which will become one of Indonesia biggest oil projects with reserves of around 600 million barrels.
Exxon Mobil (XOM.N) has another 45 percent and regional governments hold the remaining 10 percent in Cepu.
Siahaan also said funds were needed to pay for preparations for a new refinery in West Java. Pertamina has said it plans to build a new refinery with a capacity of 150,000 barrels per day (bpd) in a join venture with Iran and Malaysia in West Java. Construction is expected to start next year.
Siahaan also said Pertamina was considering issuing bonds in 2010 as part of its financing plans, but he gave no details.
The state oil firm, which is under political pressure to help boost the country's flagging oil production, has said it aims to lift its oil output by about 10 percent to 171,000 barrels per day this year, up from 156,000 bpd in 2008.
Pertamina also has a long-term target of boosting refining capacity by 700,000 bpd from the current 1 million bpd at its nine refineries. The state oil firm's nine refineries have a combined capacity of around 1 million barrels per day (bpd). But they only supply 70 percent of domestic oil product consumption, and 30 percent comes from imports.
Efforts to build new refineries have stalled in recent years, with potential investors saying the returns are not favourable enough.
Indonesia's state oil and gas firm Pertamina signed on Friday syndicated loans worth $400 million and 3 trillion rupiah ($302.6 million) with local and foreign banks to fund upstream and downstream projects.
The dollar loan involves 16 banks, including Citigroup (C.N) unit Citibank NA, Bank of Tokyo-Mitsubishi UFJ (8306.T) and Sumitono Mitsui Banking Corporation (8316.T), a statement from local lender PT Bank Mandiri (BMRI.JK) said.
Citigroup is lead arranger for the loan.
"We believe this loan facility can speed up Pertamina's expansions and business developments in the future, in line with the strategic target set by the company," Karen Agustiawan, Pertamina's president director, said in a statement.
The $400 million loan has a maturity of three years and would pay 338 basis points above the London inter-bank offered rate (LIBOR), Pertamina Finance Director Ferederick Siahaan said.
Mandiri is lead arranger for the rupiah loan and will lend 1.25 trillion rupiah, while 750 billion comes from PT Bank Negara Indonesia (BBNI.JK), 500 billion rupiah from PT Bank Rakyat Indonesia (BBRI.JK) and 500 billion from PT Bank Central Asia (BBCA.JK).
Siahaan told reporters Pertamina planned to spend 22 trillion rupiah on capital expenditure in 2009, with 65 percent allocated for upstream activities and 35 percent for downstream. The firm is estimated to have invested 17 trillion rupiah in 2008.
"There are many Pertamina projects that need to be financed, including upstream and downstream. Upstream projects include Cepu and the offshore North West Java block," he said.
Pertamina has a 45 percent stake in the Cepu block in East Java, which will become one of Indonesia biggest oil projects with reserves of around 600 million barrels.
Exxon Mobil (XOM.N) has another 45 percent and regional governments hold the remaining 10 percent in Cepu.
Siahaan also said funds were needed to pay for preparations for a new refinery in West Java. Pertamina has said it plans to build a new refinery with a capacity of 150,000 barrels per day (bpd) in a join venture with Iran and Malaysia in West Java. Construction is expected to start next year.
Siahaan also said Pertamina was considering issuing bonds in 2010 as part of its financing plans, but he gave no details.
The state oil firm, which is under political pressure to help boost the country's flagging oil production, has said it aims to lift its oil output by about 10 percent to 171,000 barrels per day this year, up from 156,000 bpd in 2008.
Pertamina also has a long-term target of boosting refining capacity by 700,000 bpd from the current 1 million bpd at its nine refineries. The state oil firm's nine refineries have a combined capacity of around 1 million barrels per day (bpd). But they only supply 70 percent of domestic oil product consumption, and 30 percent comes from imports.
Efforts to build new refineries have stalled in recent years, with potential investors saying the returns are not favourable enough.
Friday, July 10, 2009
Bank Ekspor Indonesia to sign $210 mln syndicated loan
SINGAPORE -
Bank Ekspor Indonesia will sign a $210 million syndicated loan on Friday to help refinance the Indonesian lender's loan and support future export financing, Bank Mandiri, one of its mandated lead arrangers & bookrunners, said.
Bank Mandiri (BMRI.JK), Indonesia's largest bank by assets, contributed the biggest portion of that syndicated loan by lending $35 million to Bank Ekspor, according to a statement.
A total of 16 banks participated in that syndicated loan, including Bank of Tokyo-Mitsubishi UFJ, Oversea-Chinese Banking Corporation (OCBC.SI) and Krung Thai Bank KTB.BK.
Bank Ekspor Indonesia will sign a $210 million syndicated loan on Friday to help refinance the Indonesian lender's loan and support future export financing, Bank Mandiri, one of its mandated lead arrangers & bookrunners, said.
Bank Mandiri (BMRI.JK), Indonesia's largest bank by assets, contributed the biggest portion of that syndicated loan by lending $35 million to Bank Ekspor, according to a statement.
A total of 16 banks participated in that syndicated loan, including Bank of Tokyo-Mitsubishi UFJ, Oversea-Chinese Banking Corporation (OCBC.SI) and Krung Thai Bank KTB.BK.
Bank Ekspor Indonesia to sign $210 mln syndicated loan
SINGAPORE -
Bank Ekspor Indonesia will sign a $210 million syndicated loan on Friday to help refinance the Indonesian lender's loan and support future export financing, Bank Mandiri, one of its mandated lead arrangers & bookrunners, said.
Bank Mandiri (BMRI.JK), Indonesia's largest bank by assets, contributed the biggest portion of that syndicated loan by lending $35 million to Bank Ekspor, according to a statement.
A total of 16 banks participated in that syndicated loan, including Bank of Tokyo-Mitsubishi UFJ, Oversea-Chinese Banking Corporation (OCBC.SI) and Krung Thai Bank KTB.BK.
Bank Ekspor Indonesia will sign a $210 million syndicated loan on Friday to help refinance the Indonesian lender's loan and support future export financing, Bank Mandiri, one of its mandated lead arrangers & bookrunners, said.
Bank Mandiri (BMRI.JK), Indonesia's largest bank by assets, contributed the biggest portion of that syndicated loan by lending $35 million to Bank Ekspor, according to a statement.
A total of 16 banks participated in that syndicated loan, including Bank of Tokyo-Mitsubishi UFJ, Oversea-Chinese Banking Corporation (OCBC.SI) and Krung Thai Bank KTB.BK.
Saturday, May 30, 2009
INDONESIA'S BRI LEADS CONSORTIUM TO BUILD POWER PLANTS
JAKARTA, May 29, 2009
A consortium of Indonesian banks led by Bank Rakyat Indonesia (BRI) (JSX:BBRI) has pledged a loan of US$328 million for state electricity company PLN.
The loan fund will be used to finance the construction of coal-fired power plants in Pangkalan Susu North Sumatra and in Tarahan in South Lampung, PLN vice president Rudiantara said.
The two projects are part of PLN's crash program to build coal-fired power plants with a total capacity of 10,000 megawatts to be completed next year, the newspaper Bisnis Indonesia said.
The Pangkala Susu plant will have a capacity of 400 MW to be built by a consortium of Chuan Dong China, PT Bagus Karya Jakarta and PT Nicek Bandung at a cost of US$270 million.
The one in Tarahan will have a capacity of 200 MW to be built by Jiangxi Electric Power Overseas Engineering from China and PT Adhi Karya to cost around US$154.27 million and Rp595.1 billion.
A consortium of Indonesian banks led by Bank Rakyat Indonesia (BRI) (JSX:BBRI) has pledged a loan of US$328 million for state electricity company PLN.
The loan fund will be used to finance the construction of coal-fired power plants in Pangkalan Susu North Sumatra and in Tarahan in South Lampung, PLN vice president Rudiantara said.
The two projects are part of PLN's crash program to build coal-fired power plants with a total capacity of 10,000 megawatts to be completed next year, the newspaper Bisnis Indonesia said.
The Pangkala Susu plant will have a capacity of 400 MW to be built by a consortium of Chuan Dong China, PT Bagus Karya Jakarta and PT Nicek Bandung at a cost of US$270 million.
The one in Tarahan will have a capacity of 200 MW to be built by Jiangxi Electric Power Overseas Engineering from China and PT Adhi Karya to cost around US$154.27 million and Rp595.1 billion.
Friday, March 27, 2009
INDONESIAN STATE BANKS TO FINANCE GEOTHERMAL POWER PROJECT
JAKARTA-
Three Indonesian state banks have agreed to provide a syndicated loan of US$80 million to finance the construction of a geothermal power plant in Patuha, West Java.
Gatot M Suwondo, the president of Bank Negara Indonesia (BNI) (JSX:BBNI) said the bank is ready to lead the syndicate that will include PT Bank Mandiri (JSX:BMRI) and PT Bank Rakyat Indonesia (BRI) (JSX:BBRI) to finance the project owned by PT Geo Dipa Energy.
Negotiation is still underway to decide the contributions of each bank, Gatot said after the signing of a memorandum of understanding between the three state lenders last week.
Praktimia Semiawan, the president of Geo Dipa, said the cost of building the 55-megawatt power plant is estimated to reach US$143 million.
Geo Dipa is a joint venture company between state power utility PLN and oil and gas company PT Pertamina. March 27th, 2009.
Three Indonesian state banks have agreed to provide a syndicated loan of US$80 million to finance the construction of a geothermal power plant in Patuha, West Java.
Gatot M Suwondo, the president of Bank Negara Indonesia (BNI) (JSX:BBNI) said the bank is ready to lead the syndicate that will include PT Bank Mandiri (JSX:BMRI) and PT Bank Rakyat Indonesia (BRI) (JSX:BBRI) to finance the project owned by PT Geo Dipa Energy.
Negotiation is still underway to decide the contributions of each bank, Gatot said after the signing of a memorandum of understanding between the three state lenders last week.
Praktimia Semiawan, the president of Geo Dipa, said the cost of building the 55-megawatt power plant is estimated to reach US$143 million.
Geo Dipa is a joint venture company between state power utility PLN and oil and gas company PT Pertamina. March 27th, 2009.
Wednesday, February 4, 2009
PLN Gets $378m in Syndicated Loans
JAKARTA
State electricity firm PT Perusahaan Listrik Negara said on Friday that it has secured syndicated loans worth about Rp 4.3 trillion ($378.4 million) to finance the building of power plants across the country in a bid to meet the growing domestic demand for electricity.
As part of its “fast-track” power generation program, PLN has signed three loan agreements with state and local government-owned banks, including the country’s fourth largest lender, PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia Tbk and local development banks, or BPDs.
“The success of the negotiation process and the approval of a loan facility to PLN from syndicated banks show strong support from the national banks and the government [of the program],” said Fahmi Mochtar, president director of PLN. The fast-track program aims add 10,000 megawatts of coal-fired power generation by 2010.
The loans, which will finance 85 percent of the projects, will mature in 10 years with a three-year grace period and a floating rate based on the Jakarta interbank rate, or Jibor.
“Until now the [electricity] demand in the market is much higher than the current capacity of PLN to supply consumers,” said Gatot M. Suwondo, president director of PT Bank Negara Indonesia.
The first agreement that PLN signed was a syndicated loan of Rp 1.1 trillion with BNI and BRI to finance a coal-fired power plant project in Tanjung Awar-Awar, East Java Province, consisting of two power plants with a 350 MW capacity each.
The second agreement was with BRI and BPDs from districts in Jakarta, Papua, South Kalimantan and South Sumatra provinces for another Rp 1.1 trillion-worth of loans to help finance six power plants in Bangka Belitung Islands, South Kalimantan Province, and Papua Island.
The remaining Rp 2.1 trillion will be used to construct eight power plants with the capacity to generate a total of 310 MW. The plants will be constructed in the Sulawesi, Kalimantan, Papua and Sumatra Islands.
Bloomberg reported on Friday that PLN may cut coal buying costs by 38 percent to Rp 500,000 a ton, from around Rp 700,000 to Rp 800,000 a ton last year, due to softening energy prices.
Last week, Jacobus Purwono, director general of electricity at the Ministry of Energy, said PLN would pay Rp 750,000 for a ton of coal. However, Jacobus said that the earlier estimated coal price was made when the oil assumption was at $80 per barrel, while the ministry is now proposing the oil assumption to be between $40 to $60.
PLN estimates that it would consume 34 million of coal this year, about 13 percent more than last year, Nasri Sebayang, PLN’s head of primary fuels said, as quoted by Bloomberg. PLN hasn’t priced all the coal it will use, he said, without elaborating further.
State electricity firm PT Perusahaan Listrik Negara said on Friday that it has secured syndicated loans worth about Rp 4.3 trillion ($378.4 million) to finance the building of power plants across the country in a bid to meet the growing domestic demand for electricity.
As part of its “fast-track” power generation program, PLN has signed three loan agreements with state and local government-owned banks, including the country’s fourth largest lender, PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia Tbk and local development banks, or BPDs.
“The success of the negotiation process and the approval of a loan facility to PLN from syndicated banks show strong support from the national banks and the government [of the program],” said Fahmi Mochtar, president director of PLN. The fast-track program aims add 10,000 megawatts of coal-fired power generation by 2010.
The loans, which will finance 85 percent of the projects, will mature in 10 years with a three-year grace period and a floating rate based on the Jakarta interbank rate, or Jibor.
“Until now the [electricity] demand in the market is much higher than the current capacity of PLN to supply consumers,” said Gatot M. Suwondo, president director of PT Bank Negara Indonesia.
The first agreement that PLN signed was a syndicated loan of Rp 1.1 trillion with BNI and BRI to finance a coal-fired power plant project in Tanjung Awar-Awar, East Java Province, consisting of two power plants with a 350 MW capacity each.
The second agreement was with BRI and BPDs from districts in Jakarta, Papua, South Kalimantan and South Sumatra provinces for another Rp 1.1 trillion-worth of loans to help finance six power plants in Bangka Belitung Islands, South Kalimantan Province, and Papua Island.
The remaining Rp 2.1 trillion will be used to construct eight power plants with the capacity to generate a total of 310 MW. The plants will be constructed in the Sulawesi, Kalimantan, Papua and Sumatra Islands.
Bloomberg reported on Friday that PLN may cut coal buying costs by 38 percent to Rp 500,000 a ton, from around Rp 700,000 to Rp 800,000 a ton last year, due to softening energy prices.
Last week, Jacobus Purwono, director general of electricity at the Ministry of Energy, said PLN would pay Rp 750,000 for a ton of coal. However, Jacobus said that the earlier estimated coal price was made when the oil assumption was at $80 per barrel, while the ministry is now proposing the oil assumption to be between $40 to $60.
PLN estimates that it would consume 34 million of coal this year, about 13 percent more than last year, Nasri Sebayang, PLN’s head of primary fuels said, as quoted by Bloomberg. PLN hasn’t priced all the coal it will use, he said, without elaborating further.
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