Ariawest secures loans<\/p>\n
JAKARTA (JP): PT Ariawest International secured US$614.85
\nmillion in syndicated loan facilities yesterday for the
\ninstallation of new telephone lines in West Java.<\/p>\n
Ariawest President John G. Vandras said after signing the loan
\nagreement here that the proceeds will be used to finance the
\ndevelopment of 500,000 new telephone lines in West Java by the
\nend of the first quarter of 1999.<\/p>\n
The company will start the process by installing 80,000 new
\ntelephone lines by the end of this month, he said.<\/p>\n
Yesterday's loans were pledged by 40 international banks, led
\nby four lead arrangers -- CIBC-CEF, Chase Manhattan Asia, Credit
\nLyonnais and Sanwa Bank.<\/p>\n
The syndicated offshore facilities comprise a $430 million
\n8.5-year term loan, a $25-million five-year working capital loan,
\na $40.85-million performance bond and an 8.5-year guarantee
\nfacility of up to $199 million.<\/p>\n
Ariawest is a partner of state-owned PT Telkom for the 15-year
\nWest Java project, which is being carried out on a joint-
\noperation basis.<\/p>\n
Prior to the installation of the new lines, Ariawest, which is
\njointly owned by PT Artimas Kencana Murni, US WEST International
\nand the Asian Infrastructure Fund of Hong Kong, took over the
\noperation of some 425,000 existing lines in West Java in January.<\/p>\n
The project's next phase, from 1999-2010, will be the
\noperational phase of Telkom facilities in West Java.<\/p>\n
In its operations, Ariawest will use equipment from local and
\ninternational telecommunications suppliers including state-owned
\nPT Inti, Lucent Technologies of the United States, NEC
\nCorporations of Japan and Siemens of Germany. (icn\/pwn)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ariawest-secures-loans-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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