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BNI Syariah Sindikasi (Syndication)

 

Sydication (Sindikasi) iB Hasanah is a financing facility provided by two or more financial institutions to be used to finance a project/business under mutual terms and conditions, as well as using a mutual agent and documents.

Purpose

  • To assist customers in need of a substantial amount of financing that is otherwise difficult for the bank to fulfil.
  • To spread risk,
  • As a solution for the maximum credit/financing limit regulation for both Group and Non Group financing customers.
  • To increase profit and fee-based income.

Characteristics

  • The amount of financing typically required is substantial.
  • The financing is typically required for a medium or long term duration.
  • Sindikasi iB Hasanah is provided by more than one creditor as participants of the syndicated loan.
  • The responsibility of each syndication participant is not determined by a joint liability arrangement. Each participant is only accountable for the amount of its own financing commitment.
  • Only one margin/profit-sharing agreement applies to the customer.
  • Only one contract that has been agreed upon by members of the syndication applies to the customer.
  • One syndication participant will be appointed as Agent (e.g. Facility Agent and/or Security Agent). The Agent will take an administrative role in carrying out and overseeing the iB Hasanah syndication financing.
  • All syndication participants must be shariah-compliant banks. Conventional banks may participate in Sindikasi iB Hasanah provided that the contract and profit-sharing margin are set out in a separate financing contract.

Parties Involved

  • The Arranger determines the terms and conditions to be applied and invites financial institutions to participate in a syndicated loan through Sindikasi iB Hasanah.
  • The Facility Agent is a party taking an administrative role in the use of Sindikasi iB Hasanah financing after a syndicated loan contract (Akad Pembiayaan/AP) has been signed by the customer and the participating banks.
  • The Security Agent is a party appointed by the participating banks of the syndicated loan to be in charge of the settlement, administration and storage of collateral documents for financing via Sindikasi iB Hasanah.
  • The Underwriter (if necessary), is a party guaranteeing the distribution of financing to the financing customer up to the agreed amount (may be fully committed or partially committed).
  • The Lead Bank is a bank appointed to be the coordinator of arrangers. In the case of the existence of only one arranger, the lead bank may also act as an arranger.