CEO of Indonesia’s investment management agency BPI Danantara, Rosan P. Roeslani, reveals that the agency has obtained US$10 billion (Rp163 trillion) in unsecured loans from foreign banks, a feat indicating global investor confidence in the country’s investment authority.
“This was granted without any collateral because they saw that Danantara has a sound and well-organized system. The repayment structure is also clearly defined,” Rosan told a press conference at the Energy and Mineral Resources Ministry on Tuesday, July 22, 2025.
He cited that repayment will be covered through annual state-owned enterprise (SOE) dividends received by Danantara. However, he emphasized that no specific assets—including dividends or shares—have been pledged to lenders.
“I told them I wouldn’t pledge anything—not shares, not dividends. And they agreed,” he said. “This is pure trust.”
The facility is potentially one of the largest financing packages in Southeast Asia. According to a Bloomberg report, banks tapped as lead arrangers include DBS Group Holdings Ltd., HSBC Holdings Plc, Natixis SA, and Standard Chartered Plc.
Danantara is said to have initiated a request for proposals (RFP) from a wide range of regional and global lenders last month.
Despite the enthusiasm, some credit analysts voiced caution. In a note cited by Bloomberg on Friday, July 11, 2025 ANZ Bank analysts Viacheslav Shilin and Ting Meng warned that the proposed loan is large and short-tenored, which could pose considerable repayment pressure.
The facility’s tenor is estimated between three to five years, raising concerns about possible refinancing risks and increased dependence on quasi-sovereign dividend flows.
Rosan stressed that all investment decisions funded by the loan will adhere to strict profitability and job creation criteria.
“This is a responsibility entrusted to us: to ensure that the investments yield strong results and generate quality employment,” he said.
As of now, Danantara has not issued an official statement in response to Bloomberg’s request for comment, and the coordinating banks have also declined to speak publicly about the loan.
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