PT Tirta Rindang Unggul Ekatama FinanceStatus: Approved investment
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Who is our customer
Our customer is PT. Tirta Rindang Unggul Ekatama Finance (“True Finance”), a multi-finance company based in Indonesia, engaged in vehicle financing. True Finance provides new and used four-wheeled vehicle (car) financing product services for productive and consumptive business use.
What is our funding objective?
Our funding objective is to provide a senior secured loan which will be on-lent to inclusive businesses including micro businesses, agricultural and rural MSMEs.
Why do we fund this investment?
Supporting inclusive businesses is aligned with FMO’s commitment on reducing inequalities. Further, FMO’s loan will contribute to diversifying the client’s liquidity profile for prudent ALM.
What is the Environmental and Social categorization rationale?
The investment is E&S C-risk category. Although there are exposures to high-risk sectors in True Finance's portfolio, the company only finances vehicles or assets related to these high-risk sectors not the projects themselves, and the size is limited.
- Website customer/investment
- Financial Institutions
- Publication date
- Effective date
- Total FMO financing
- USD 15.00 MLN
- FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)
- Loan participation