KUALA LUMPUR (Jan 30): MALAYAN BANKING BHD [] group has concluded the syndication of a US$330.6 million term facility for Indonesia’s independent power producer (IPP) PT Bajradaya Sentranusa (BDSN) as the group taps into cross-border financing opportunities, including Islamic banking.
Maybank said on Monday the entities - PT Bank Internasional Indonesia Tbk (BII), Maybank Investment Bank Bhd and PT Bank Maybank Syariah Indonesia (MSI) -- were the joint mandated lead arrangers and bookrunners.
BII, Maybank Islamic Bhd and MSI were the joint underwriters for this transaction. PT Bank Bukopin Tbk and Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank) were also lenders in this transaction.
BDSN builds, owns and operates the Asahan 1 Hydroelectric Power Plant under a 30-year power purchase greement (PPA) with PT Perusahaan Listrik Negara (Persero).
Maybank said the 10-year facility is divided into dual-currency conventional tranches of US$187.5 million and 400 billion rupiah as well as US$100 million in an Islamic tranche.
Proceeds will be used to take over the entire existing project loans for the CONSTRUCTION [] of the 2x90 MW Asahan 1 hydroelectric power plant in North Sumatra.
BDSN president director Husni Sabar said: “We are pleased to have reached this milestone despite the general uncertainty in global financial markets. This transaction will mark a long and beneficial relationship between BSDN and the Maybank Group.”
Maybank deputy president and head, global wholesale banking Abdul Farid Alias: “This transaction marks a continuation of Maybank Group's support for its International Currency Business Unit (ICBU) platform, which is an initiative under the Malaysian International Islamic Financial Centre (MIFC) by the Malaysian Government.”
He said with Maybank group’s significant regional reach, “we are seeing greater opportunities in cross-border financing, including in Islamic banking”.
“In addition our strong capital base enables us to fund large infrastructure projects and we are seeing this as a new growth market for our global wholesale banking business,” he added.
Maybank said on Monday the entities - PT Bank Internasional Indonesia Tbk (BII), Maybank Investment Bank Bhd and PT Bank Maybank Syariah Indonesia (MSI) -- were the joint mandated lead arrangers and bookrunners.
BII, Maybank Islamic Bhd and MSI were the joint underwriters for this transaction. PT Bank Bukopin Tbk and Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank) were also lenders in this transaction.
BDSN builds, owns and operates the Asahan 1 Hydroelectric Power Plant under a 30-year power purchase greement (PPA) with PT Perusahaan Listrik Negara (Persero).
Maybank said the 10-year facility is divided into dual-currency conventional tranches of US$187.5 million and 400 billion rupiah as well as US$100 million in an Islamic tranche.
Proceeds will be used to take over the entire existing project loans for the CONSTRUCTION [] of the 2x90 MW Asahan 1 hydroelectric power plant in North Sumatra.
BDSN president director Husni Sabar said: “We are pleased to have reached this milestone despite the general uncertainty in global financial markets. This transaction will mark a long and beneficial relationship between BSDN and the Maybank Group.”
Maybank deputy president and head, global wholesale banking Abdul Farid Alias: “This transaction marks a continuation of Maybank Group's support for its International Currency Business Unit (ICBU) platform, which is an initiative under the Malaysian International Islamic Financial Centre (MIFC) by the Malaysian Government.”
He said with Maybank group’s significant regional reach, “we are seeing greater opportunities in cross-border financing, including in Islamic banking”.
“In addition our strong capital base enables us to fund large infrastructure projects and we are seeing this as a new growth market for our global wholesale banking business,” he added.
