Tuesday, September 2, 2014

BTPN Gets Loan USD200 Million from IFC

PT National Savings Bank Tbk (BTPN) again received a loan from the International Finance Corporation (IFC) amounting to USD200 million. The loan agreement was signed on August 1, 2014. Director of the Corporate Secretary of BTPN, Anika Faisal in the disclosure of information on the Indonesia Stock Exchange (IDX), Jakarta, Tuesday, September 2, 2014, said, according to the Loan Agreement, on October 9, 2012, IFC provides loans to BTPN of USD 100,000,000 (full amount ). BTPN can do a recall on this loan facility (revolving loan) on the amount that has been paid back or paid before or on 9 October 2015 The purpose of this loan is to fund micro-credit financing.

Meanwhile, on March 18, 2013, the loan has been disbursed by IDR 970.200 (equivalent to USD 100,000,000 (full amount)) with an interest rate of 6.8%. Interest payments will be made every six months, on January 15 and July 15 which began on July 15, 2013 and ends on January 15, 2014, principal payments have been made at the end of the loan period, ie on March 18, 2014.

Then on March 24, 2014, BTPN had disbursed back revolving loan amounting to IDR 1.14 trillion (equivalent to USD 100,000,000 (full amount)) with a 9.1% interest rate. Interest is payable every 6 months, on January 15 and July 15 which began on July 15, 2014 and ending January 15 2015 Payments
principal will be made at the end of the loan period on March 24, 2015.

In the loan agreement, set some restrictions that must be met by BTPN, include:

       1. Not allowed to do business changes substantially without the written consent of the lender,
       2. Not merge, demerger, bank restructuring, which could have a significant impact.

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