ABNR Advises DFC on Loan Portfolio Guarantee for Bank Sahabat Sampoerna
ABNR has advised the United States International Development Finance Corporation (DFC) on their 50% loan portfolio guaranty of up to USD 100 million to PT Bank Sahabat Sampoerna for the expansion of the bank’s on-lending to eligible micro, small and medium enterprises, women-owned businesses and micro-finance institutions in Indonesia (“the Project”).
The deal, which was closed on 7 June 2024, marks the first guarantee mechanism deployed by DFC in support of an Indonesian banking entity.
The Project is expected to have a positive development impact in Indonesia by helping to address the country’s MSME financing gap, which is estimated to be approximately USD 165 billion, or 14% of GDP.
More specifically, the Project will seek to facilitate women’s entrepreneurship by utilizing approximately 35% of the LPG for loans to eligible MSMEs operating throughout the archipelago.
ABNR’s role in the matter included conducting legal due diligence on Bank Sahabat Sampoerna, reviewing the term sheet and guarantee documents, advising on banking and tax matters, consents and approvals, furnishing required legal opinions, and assisting with closing and post-closing matters.
The ABNR team was headed by partners Mr. Emir Nurmansyah, Ms. Monic Devina and Mr. Maher Sasongko, and included associates Mr. Fauzan Permana, Ms. Carla Nathania, Ms. Claudia Hartanto, Ms. Nesya Ashari, Mr. Arian Hasyim, Ms. Ruth Mendrofa, Ms. Reza Kinanti and Mr. Michael Pasau.
We would like to take this opportunity to warmly congratulate our client and Bank Sahabat Sampoerna, as well as to thank both parties for their close teamwork and collaboration, which greatly helped us in finalizing the legal aspects on schedule. In conclusion, we would like to wish DFC and Bank Sahabat Sampoerna every success with the Project going ahead.
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NEWS DETAIL
17 Jul 2024
ABNR Advises DFC on Loan Portfolio Guarantee for Bank Sahabat Sampoerna
ABNR has advised the United States International Development Finance Corporation (DFC) on their 50% loan portfolio guaranty of up to USD 100 million to PT Bank Sahabat Sampoerna for the expansion of the bank’s on-lending to eligible micro, small and medium enterprises, women-owned businesses and micro-finance institutions in Indonesia (“the Project”).
The deal, which was closed on 7 June 2024, marks the first guarantee mechanism deployed by DFC in support of an Indonesian banking entity.
The Project is expected to have a positive development impact in Indonesia by helping to address the country’s MSME financing gap, which is estimated to be approximately USD 165 billion, or 14% of GDP.
More specifically, the Project will seek to facilitate women’s entrepreneurship by utilizing approximately 35% of the LPG for loans to eligible MSMEs operating throughout the archipelago.
ABNR’s role in the matter included conducting legal due diligence on Bank Sahabat Sampoerna, reviewing the term sheet and guarantee documents, advising on banking and tax matters, consents and approvals, furnishing required legal opinions, and assisting with closing and post-closing matters.
The ABNR team was headed by partners Mr. Emir Nurmansyah, Ms. Monic Devina and Mr. Maher Sasongko, and included associates Mr. Fauzan Permana, Ms. Carla Nathania, Ms. Claudia Hartanto, Ms. Nesya Ashari, Mr. Arian Hasyim, Ms. Ruth Mendrofa, Ms. Reza Kinanti and Mr. Michael Pasau.
We would like to take this opportunity to warmly congratulate our client and Bank Sahabat Sampoerna, as well as to thank both parties for their close teamwork and collaboration, which greatly helped us in finalizing the legal aspects on schedule. In conclusion, we would like to wish DFC and Bank Sahabat Sampoerna every success with the Project going ahead.