Bank BTPN, SMBC Drive Sustainable Growth with US$450 Million Syndicated Loan to IMGSL
Bank BTPN and SMBC aim to support business sustainability in Indonesia through the syndicated loan facility.
Jakarta, 3 June 2024 - PT Bank BTPN Tbk (Bank BTPN) and Sumitomo Mitsui Banking Corporation (SMBC) have provided a syndicated loan worth US$450 million for PT IMG Sejahtera Langgeng (IMGSL), a subsidiary of the Indomobil Group.
The syndicated loan includes multiple tranches, one of which is a green financing tranche worth US$225.8 million. This green financing tranche will support the transition to a green economy through the development of an electric vehicle ecosystem. This initiative demonstrates Bank BTPN and SMBC's commitment to fostering meaningful and sustainable growth.
In this syndicate involving 32 lenders, Bank BTPN and SMBC serve as Coordinating Mandated Lead Arranger and Bookrunner, Lead Green Loan Coordinator, Facility Agent, Security Agent, and Account Bank.
“Bank BTPN and SMBC are committed to facilitating financing that supports sustainable business efforts in Indonesia. We aim to expand comprehensive and innovative financial solutions through this syndicated loan to meet various needs, including those of businesses,” said Nathan Christianto, Head of Wholesale, Commercial, and Transaction Banking at Bank BTPN.
“This vision aligns with the Indomobil Group’s commitment to promoting the adoption of environmentally friendly transportation in Indonesia,” Nathan added.
As a subsidiary of PT Indomobil Sukses Internasional Tbk (IMAS), one of Indonesia's largest automotive groups, IMGSL will use the syndicated loan to strengthen the development of the electric vehicle ecosystem and infrastructure in Indonesia. The loan will also address other corporate needs.
“IMGSL greatly appreciates the leadership of Bank BTPN and SMBC in trusting us with this credit facility. This opportunity will support IMGSL in advancing a sustainable and adequate electric vehicle ecosystem,” said Andrew Nasuri, Business Development Director of Indomobil Group.
Bank BTPN and SMBC always evaluate the credibility and track record of companies targeted for syndicated loans, especially those that adhere to sustainable principles. In this case, IMGSL, supported by Bank BTPN and SMBC as Lead Green Loan Coordinator, has established a verified green financing framework to ensure the best implementation of sustainability principles.
Bank BTPN has been supporting Indomobil Group since 2015 across various business sectors, including finance and logistics. Both parties are committed to fostering positive synergy to achieve sustainability goals.
Bank BTPN is committed to the green economic transition, providing Rp13.77 trillion in environmentally and socially conscious financing as of December 2023, a 6% increase from the previous year. This financing supports renewable energy projects, energy efficiency, sustainable natural resource and land management, eco-friendly transportation, resource-efficient and low-pollution products, and green buildings meeting recognized standards. It also extends to micro, small, and medium enterprises.
These actions demonstrate Bank BTPN's commitment to providing sustainable financial solutions, supporting the transition to a low-carbon economy, and creating a more meaningful life.
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