Republic of Indonesia / Loan Insurance for Auto Financing of PT Summit OTO Finance
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Kazuhiko Bando) has decided to provide insurance for a loan provided by Deutsche Bank AG, Tokyo Branch to PT Summit OTO Finance (“SOF”), an Indonesian affiliated company of Sumitomo Corporation. NEXI’s insurance will support Deutsche Bank’s JPY 3 billion loan.
SOF’s main business is to provide auto loans to consumers in the Republic of Indonesia for purchasing two-wheel vehicles, which are mainly manufactured by Japanese motorcycle companies. Sale volume of two-wheel vehicles has grown significantly in Indonesia, driven by rising population and income levels.
NEXI’s insurance support to financing activity of SOF is expected to contribute to further increase in sales of Japanese automakers in Indonesia.
NEXI will continue to provide support for global business activities by Japanese companies.
Insured | Deutsche Bank AG, Tokyo Branch |
Insurable Value | JPY 3 billion |
Tenor | 3 years |
Covered Risk | Political Risk 100% |
Contact: Infrastructure Group, Structured and Trade Finance Insurance Department
Tel: 03-3512-7674