INDONESIA - AWARDS - AXIS Financing Programs win Euromoney, IFN Awards

www.arabnews.com - The financing programs of AXIS, a subsidiary of STC in Indonesia, won the award of the best financing of the year among the awards of Euromoney and the award of Islamic Financing.

These two are internationally famous awards for their reputation of excellence and efficiency of finance management, thus, winning either of them let alone winning both of them, ensure deep trust in the finance administration of STC Group Finance sector. (source)

INDONESIA - AWARDS - IFN Deals of the Year 2011

Commodity Murabaha USD 183 million - TH Indo Plantations Tawarruq applied to refinance shareholder advances from Tabung Haji. The cross-border transaction involves funding properties in Indonesia and addressing local regulations and language requirements.

Trade Finance : Natrindo Telepon Selular (Axis Indonesia) Financing : The winner is the complex and well structured Natrindo Telepon Selular (Axis Indonesia). This was the largest private sector financing in Indonesia in 2011 and first Islamic financing involving China Development Bank supporting the procurement of product and civil works services from Huawei Technologies Company for USD 400 million. The deal also included a USD 450 million syndicated Murabaha and a USD 350 million equipment purchase from Ericsson funded by AB Svensk Eksportkredit and backed by EKN Sweden's export credit agency. The transaction also included a political risk guarantee from the World Bank Groups' Multilateral Investment Guarantee Agency.

Country Winner: Perusahaan Penerbit SBSN Indonesia II USD 1 billion Trust Certificate Issuance : Indonesia'sUSD 1 billion  issuance via Perusahaan Penerbit SBSN Indonesia II represented Indonesia's return to the capital markets with a better credit rating, better pricing and a bigger size. (honorable mention for the Natrindo Telepon Selular (Axis Indonesia).

Source : www.islamicfinancenews.com

TRADE FINANCE - MIGA Covers Murabaha Facility for Indonesia Telecoms Expansion

Project Example of Agency’s Work with Islamic Finance Deal Structures

WASHINGTON, DC, June 16, 2011—The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance arm of the World Bank Group, announced today that it has provided $450 million in investment guarantees to support the expansion of telecommunications services in Indonesia. MIGA’s guarantees are backing a $450 million Murabaha financing facility underwritten by Deutsche Bank and Saudi British Bank (SABB). (source)

FINANCE - STC Indonesia unit secures $1.2bn funding

Saudi Telecom Company (STC), said its Indonesian unit Axis has secured $1.2 billion in financing to help fund its expansion and growth strategies for the next five years.

The finance deal, with a tenor of seven and a half years, involves several local and international financial institutions and all facilities have been structured in a sharia-compliant manner, said a STC statement. (full story - trade arabia)