MAGNAAR represented Bank Muamalat as Mandated Lead Arranger, Facility Agent, and Collateral Agent, together with 4 (four) other participating banks namely Bank Aceh Syariah, Bank Sumsel Babel-Sharia Business Unit, Bank Jateng-Sharia Business Unit, and Bank Kalsel-Sharia Business Unit, in providing Rp 700 billion syndicated Al Musyarakah financing facility made available to CIMB Niaga Auto Finance. The Al Musyarakah financing facility provided by the syndication will be used by CIMB Niaga Auto Finance for working capital to support its sharia-based financing of motor vehicles. This Al Musyarakah facility is part of CIMB Niaga Auto Finance’s strategy in prioritizing sharia-based financing. Bank Muamalat is the first sharia commercial bank in Indonesia.
The MAGNAAR team for this transaction include Sahid Ramadian, Suci A. E. Mandiri, and Naila Arnita.
You can find out more about this transaction in the following article (in Indonesian language) here: https://keuangan.kontan.co.id/news/sejumlah-bank-syariah-kucurkan-pembiayaan-kepada-cimb-niaga-auto-finance