Bank Universal top arranger of rupiah loans
JAKARTA (JP): Loans worth Rp 4.39 trillion were syndicated last year and most of these transactions were completed prior to Aug. 14, the day the rupiah was floated.
Data collected by Basisfield League Table, the database arm of Basis Point -- a Hong Kong-based weekly newsletter covering Asian debt markets -- showed that only Rp 2 billion of the deals were finalized after Aug. 14.
"The 1997 table is particularly interesting given the current financial crisis," Basisfield said in a statement yesterday.
"The volume of the deals in 1997 is unlikely to be matched in 1998, with many of the banks appearing on the table unable to do any new business at present."
According to the organization, Bank Universal tops the list of arrangers of Indonesian rupiah loans for 1997, having set up a total of Rp 538.4 billion in syndicated term loans and project finance facilities.
Coming in a close second was Bank PDFCI, with three deals amounting to Rp 533.3 billion.
Basisfield said the market for syndicated rupiah deals had been dominated by private banks.
State banks have traditionally been the major lenders of rupiah, but the majority of their loans were club deals and bilaterals, and typically not reported. (rid)
Table: Rupiah Syndicated Loans 1997
Amount Deals
Arranger (in billions)
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Bank Universal 538.4 3
Bank PDFCI 533.4 3
Bank Internasional Indonesia 518.4 3
Bank Danamon 508.4 2
Bank Negara Indonesia 408.4 1
Bank Rakyat Indonesia 408.4 1
Bank Niaga 294.7 5
Bank Tamara 292.5 3
Bank Bali 190 2
Bank Umum Servitia 110 3
Bank Ficorinvest 100 1
Bank Tiara Asia 80 1
Bank Dagang Nasional Indonesia 75.2 1
Bank Duta 75.2 1
Bank Finconesia 63 2
Bank Rajawali 60 1
Bank Bira 45 1
Makindo Securities 37.5 1
Bank Ciputra 26 1
Bank Kredit Asia 22.2 1
Bank Nusa Internasional 8.5 1
Total 4,395.3 38
Note: The Basisfield League Table derives its information from Basis Point, with all deals individually checked with the banks listed. All Indonesian banks have been given the opportunity to comment on league table positions. All loans and project finance facilities signed in 1997 are included. Where deals have been underwritten but are to be syndicated, only the syndicated signing counts. Senior level arrangers are only counted with amounts prorated. Club deals are included, bilaterals are not.