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    Term Sheet

    Uploaded by

    dicky bhakti
    The document outlines the key terms of a proposed 250 billion IDR loan from Dharmakusala Waskita Brana to Megapolitan Group. The 5-year loan would be used for real estate development and be secured by a mall property. Interest would be fixed at 13% paid quarterly. Starting in year 4, 50% of principal would be paid each year with the remaining balance due at maturity. The terms are not final and subject to change pending due diligence and underwriting.

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    Term Sheet

    Uploaded by

    dicky bhakti
    38 views3 pages
    The document outlines the key terms of a proposed 250 billion IDR loan from Dharmakusala Waskita Brana to Megapolitan Group. The 5-year loan would be used for real estate development and be secured by a mall property. Interest would be fixed at 13% paid quarterly. Starting in year 4, 50% of principal would be paid each year with the remaining balance due at maturity. The terms are not final and subject to change pending due diligence and underwriting.

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    The document outlines the key terms of a proposed 250 billion IDR loan from Dharmakusala Waskita Brana to Megapolitan Group. The 5-year loan would be used for real estate development and be secured by a mall property. Interest would be fixed at 13% paid quarterly. Starting in year 4, 50% of principal would be paid each year with the remaining balance due at maturity. The terms are not final and subject to change pending due diligence and underwriting.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    38 views3 pages

    Term Sheet

    Uploaded by

    dicky bhakti
    The document outlines the key terms of a proposed 250 billion IDR loan from Dharmakusala Waskita Brana to Megapolitan Group. The 5-year loan would be used for real estate development and be secured by a mall property. Interest would be fixed at 13% paid quarterly. Starting in year 4, 50% of principal would be paid each year with the remaining balance due at maturity. The terms are not final and subject to change pending due diligence and underwriting.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Dear Ronald,

    Thank you for giving (the “Borrower”) the opportunity to review your credit request. This
    term sheet is a basic outline of the terms and conditions currently being contemplated. This is
    not a commitment to lend, but merely an expression of our interest in providing the
    aforementioned financing request. The terms and conditions are subject to change in whole or
    in part once our due diligence, credit analysis and underwriting is complete.

    Lender : Dharmakusala Waskita Brana

    Borrower : Megapolitan Group.

    Amount : IDR 250 billion interest loan only

    Purpose : Real Estate Project for a development of apartment and or landed


    housing in Cinere Area and or any other area. This money cannot
    be used to acquire any land for land banking purposes.

    Collateral: : A property with a name of “Cinere Mall” Blanket lien on the


    corporate assets of borrower (including first lien on accounts
    receivable and inventory).

    Interest Rate: : Fixed 13%

    Facility Fee : 2.5% guarantee fee on the facility amount due and collectable at
    closing to the arranger (Colliers International). Borrower shall pay
    all costs, expenses and fees (including, without limitation, recording
    and attorney fees and cost and audit fees) associated with this
    transaction.

    Maturity : five years from closing

    Payments : Interest due Quarterly in advance.


    Interest

    Principal : Starting at the year 4 Borrower will pay principal equal to 50% of
    Payment the principal and then at the maturity Borrower will pay the
    remaining to the principal
    Collateral : Mal Cinere is a 24,149 m2 gross floor area 4 storied community
    shopping center built upon a land area of 13,000 m2. The Mall has
    over 95% occupancy rate and is anchored by Gramedia Bookstore,
    XXI, Giant Supermarket, Superindo Supermarket, and Inul Vizta
    Family Karaoke. Others tenant of note includes BreadTalk, JCo,
    Telkomsel Grapari, and Podjok Busana. Mal Cinere has an average
    traffic of over 10,000 visitors per day.

    Value of : Cost Approach: Rp. 333.475.230.000 (Three Hundred Thirty-Three


    Collateral Billion, Four Hundred Seventy-Five Million, Two Hundred Thirty
    Thousand Rupiah). Income Approach: Rp. 304.254.800.000 (Three
    Hundred Four Billion, Two Hundred Fifty-Four Million, Eight
    Hundred Thousand Rupiah)

    The value of the Collateral is not subject to mark-to-market


    Payment : Board of Director of Megapolitan Developments Tbk
    Guarantors

    Borrower 1. Borrower shall at all times maintain a Debt to Tangible Net


    Worth of less than 4.0x measured quarterly defined as Total
    Liabilities (less Subordinated Debt) divided by Tangible Net
    Worth
    2. Borrower shall at all times maintain a minimum Debt Service
    Coverage Ratio of 1.5x, measured quarterly on a rolling 12-
    month basis defined as EBITDA (Earnings before Interest, Tax,
    Depreciation and Amortization) less Distributions and
    Withdrawals divided by the Current Portion of Long Term Debt
    plus Interest Expense

    Other : 1. Borrower shall maintain the same Bank with its borrower,
    Requirements: its primary operating account and a cash collateral account
    wherein client payments will be deposited.
    2. Subordination of loans from shareholders or
    persons/companies related to or owned by shareholders
    3. Loan payments shall be set up on auto debit.
    4. Exclusion from Borrowing Base of all Receivables on cash
    or less than 15 day sales terms.
    5. Maintenance of Credit Insurance policy issued by Ex-Im
    Bank
    6. Field audit to be performed pre-funding. Advance rates and
    any other supporting documentation accompanying the
    borrowing base monthly submission subject to findings in
    field audit. Field Audit to be performed semi-annually
    thereafter by Bank personnel or outside auditors of Bank’s
    choice, costs to be borne by Borrower.

    Reporting 1. Annual CPA Reviewed financial statements due within 120


    Requirements: days of fiscal year end.
    2. Quarterly management-prepared financial statements and
    covenant compliance certificate due within 45 days of each
    fiscal quarter end.
    3. Guarantor’s personal financial statement to be submitted
    within 30 days from year-end or no later than 12 months
    from last submission.

    Documentation Borrower agrees to execute any and all documents necessary for
    : Lender to perfect its first security interest in the collateral.

    Payments Interest:

    Covenants:

    This term sheet and not a commitment to lend. These terms and conditions are subject to
    change. Please note that this outline does not contain all of the terms, conditions and other
    provisions involved in this transaction that would be more fully described in the definitive
    legal document(s) for the proposed transaction.

    Very truly yours,

    Mr. Dicky Bhakti

    Dharmakusala Waskita Brana

    PT………

    ACCEPTED BY:

    Mr. Ronald Wihardja

    Megapolitan Group

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