Jakarta, May 24, 2023 – PT Bank BTPN Tbk (“Bank BTPN”) and four other creditors have agreed to lend Rp1.111 trillion in a syndicated facility to PT Seino Indomobil Logistics (“PT SIL”) to finance the latter’s working capital.
Bank BTPN—along with the other creditors, namely PT Bank DBS Indonesia, PT Bank Mayapada Internasional Tbk, PT Bank Mizuho Indonesia, and the Jakarta branch of Bank of China (Hong Kong) Ltd—and PT SIL signed the syndicated loan facility on May 4 in Jakarta.
Under the five-year syndicated loan facility scheme, Bank BTPN acts as a Coordinator, Mandated Lead Arranger, and Bookrunner.
“We are pleased to be part and take active role in providing a syndicated loan facility for PT Seino Indomobil Logistics. Through this loan, Bank BTPN wants to grow together with our customer, Seino Indomobil, and become a strategic partner in providing its financial needs, in line with our vision to always give a significant change to the life of millions of people,” said Bank BTPN Head of Wholesale, Commercial, and Transaction Banking Nathan Christianto.
PT SIL is a joint venture company established by PT CSM Corporatama—one of the Indomobil Group’s subsidiaries—and Seino Holdings Co. Ltd., one of the largest logistics companies in Japan.
“We are delighted and grateful to Bank BTPN, Bank DBS Indonesia, Bank Mayapada Internasional, Bank Mizuho Indonesia, and the Jakarta branch of Bank of China (Hong Kong) who have kept trusting us, PT Seino Indomobil Logistics. We believe that the facility will support us to continuously grow and retain its position as the largest and best logistics company in Indonesia,” said Andrew Nasuri, President Director of PT Seino Indomobil Logistics.
The latest syndicated loan facility will help boost Bank BTPN’s performance to continue growing. As of the end of March 2023, Bank BTPN reported 5%-year-on-year (yoy) loan growth to Rp149.90 trillion, compared with Rp 142.37 trillion in the same period last year. Loans particularly in the corporate segment rose 7% yoy at the end of March 2023.
Bank BTPN continues to participate in syndicated financing through the corporate segment, especially in infrastructure projects, in renewable energy projects, in environmental, social, and governance-related projects, and in supporting industries, including the export supporting industry, which is in line with the Indonesian government’s development programs.
Bank BTPN will also continue to add supporting services in the corporate segment, like trade finance and foreign exchange services.
“Bank BTPN’s corporate segment will continue to grow this year, by expanding our segment targets, adding new products, and enhancing technology,” Nathan concluded.