Bakrie Electronics secures $50m loan<\/p>\n
HONG KONG (Reuter): PT Bakrie Electronics Co, a
\ntelecommunication joint venture between the Bakrie Group and PTT
\nTelecom BV of the Netherlands, has successfully completed a four-
\nyear US$50 million term loan facility, said arranger Sakura
\nMerchant Bank Singapore.<\/p>\n
The facility pays 150 basis points over Singapore Interbank
\nOffered Rate to lenders who can absorb Indonesian withholding tax
\nwhile lenders who are unable to absorb withholding tax will
\nreceive a Standby Letter of Credit fee of 105 basis points over
\nSIBOR. There is a put option at the end of year three.<\/p>\n
Fees are 50 basis points for lead managers, 37.5 basis points
\nfor co-lead managers and 25 basis points for managers.<\/p>\n
Arrangers and underwriters are BA Asia, Mitsubishi Trust &
\nBanking Corp's Singapore Branch, Sakura Merchant Bank (Singapore)
\nand Tokyo-Mitsubishi International (Singapore).<\/p>\n
Lead managers are Asahi Bank's Singapore Branch, Bank of
\nAmerica NT & SA, Bank of Tokyo-Mitsubishi's Singapore Branch,
\nIndustrial Bank of Japan's Singapore Branch, Mitsubishi Trust &
\nBanking Corp's Singapore Branch, Mitsui Trust & Banking Co's
\nSingapore Branch, Rabobank's Singapore Branch\/PT Rabobank Duta
\nIndonesia and Sakura Bank's Singapore Branch.<\/p>\n
Co-lead managers are Hua Nan Commercial Bank's Singapore
\nBranch, Sumitomo Trust & Banking Co's Singapore Branch and Toyo
\nTrust & Banking Co's Singapore Branch.<\/p>\n
Signing is set for Friday in Singapore.<\/p>\n
Proceeds will be used primarily to refinance the borrower's
\nexisting onshore bank borrowings.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bakrie-electronics-secures-50m-loan-1447893297",
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