HSBC gives $292m loan to Pertamina

JAKARTA: Banking giant HSBC signed on Tuesday a US$292 million syndicated loan agreement to finance the import of crude oil by state oil and gas company Pertamina.

HSBC is the lead arranger and sole book runner for the loan, which was raised from several sharia banks and is to be disbursed to Pertamina via the sharia banking system.

Contributing institutes include sharia banks, such as the Dubai Islamic Bank, Kuwait Finance House and DEPFA, as well as conventional banks from Europe, Asia and the Middle East, HSBC said in a statement.

HSBC Indonesia chief executive officer Richard McHowat said the loan was the first global sharia syndicated loan originating from Indonesia, and one of the largest arranged for the country in the post-crisis period. -- JP