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BCA, Mandiri, BNI provide loan to fund Salim Group’s hydro power plant

JAKARTA ( – PT Bank Mandiri Tbk (IDX:BMRI), PT Bank Central Asia Tbk (IDX:BBCA) and PT Bank Negara Indonesia (IDX:BBNI) have agreed to provide Rp3.96 trillion and US$140.6 million syndicated loan facility to fund a hydropower plant owned by the Salim Group.

The loan syndication was signed on Jan. 18, 2019, Bisnis Indonesia reported.

The loan carries interest rate based on rate of the Deposit Guaranteed Agency (PLS)+4.5, while the USD loan interest is set based on London Interbank Offered Rate (LIBOR)+3%.

The hydropower plant (PLTA) and mini-hydro power plant (PLTMH) are developed by Salim Group’s unit PT Tamaris Hidro. Around 85% of Tamaris Hidro shares are held by Salim Group.

Tamaris Hydro (“TH”) was established on Oct. 5, 2011 and is the holding company for Mini Hydro Power Plant Projects (MHPP). (*)

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