Bank Mandiri disburses USD 277 million syndicated loan to support government strategic projects

07 April 2022 15:38

JAKARTA - Bank Mandiri together with Bank BJB and Bank Sulselbar confirmed their commitment to encourage the acceleration of domestic mineral downstreaming. This was realized through the signing of the Syndicated Credit Agreement for the Term Loan Facility to PT Ceria Metalindo Prima (CMP) which is part of PT Ceria Nugraha Indotama (CNI) Group with a total financing value of USD 277.69 million or around Rp 3.98 trillion (Exchange rate of Rp14,368.3 per US dollar).

This syndicated loan was disbursed to build a laterite nickel ore processing smelter project Rotary Kiln Electric Furnace (RKEF) which consists of a Rotary Kiln Electric Funance (RKEF1) factory and operational support infrastructure for RKEF1 in Lapaopao, Kolaka, Southeast Sulawesi with a tenor of up to 9 years. Meanwhile, in the agreement, Bank Mandiri acts as Mandated Lead Arranger and Bookrunner.

The President Director of Bank Mandiri, Darmawan Junaidi, explained that this collaboration is expected to be a catalyst for economic growth, provide added value to the domestic industry, and create new job opportunities for the community. "The signing of the syndicated loan agreement today feels very special because it is a milestone not only for Ceria Nugraha Indotama (CNI) Group but also for Bank Mandiri," said Darmawan in his official statement, Thursday (7/4).

This financing to CMP focuses on the construction of a ferro nickel smelter plant, which is later expected to facilitate access to the production and distribution of processed nickel both from and to the Indonesian people in general. (LM)

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