Ciputra Adigraha gets $260m loan<\/p>\n
JAKARTA (JP): Ciputra Adigraha, through its wholly owned
\nsubsidiary Ciputra Adigraha Finance BV, has secured a syndicated
\nloan of US$260 million to support its property projects.<\/p>\n
The company said the loan signed in Denpasar Saturday had been
\nprovided by 17 local and foreign banks.<\/p>\n
PT Ciputra Adigraha, a joint venture of Ciputra Group, Hong
\nKong and Shanghai Hotels Limited and NatSteel Properties Limited,
\nwould use the loan to finance the construction of the 125,000-
\nsquare-meter Mal Ciputra shopping center, the 300-room five-star
\ndiamond Peninsula hotel and the 620-room four-star Ciputra hotel
\non one site in Jakarta.<\/p>\n
Candra Ciputra of Ciputra Adigraha said the loan reflected the
\n17 banks' confidence in the shareholders and the project.<\/p>\n
HSBC Investment Bank Asia Limited's Singapore branch arranged
\nthe loan, in which Hong Kong and Shanghai Banking Corporation
\nLimited, Keppel Bank, PT Bank Negara Indonesia Tbk and Mayalan
\nBanking Berhad acted as co-underwriters.<\/p>\n
Other participants include Societe Generale, Tat Lee Bank
\nLimited, Overseas-Chinese Banking Corporation Limited, PT Bank
\nNegara Indonesia Tbk, Wing lung Bank, Banque Nationale de Paris,
\nBank of Commerce (L) Limited, Bank of China, Den Danske Bank,
\nBumi Daya International Finance Limited, Staco International
\nFinance Ltd., First Commercial Bank Ltd., Ta Chong Bank Ltd., and
\nKEXIM Asia Limited.<\/p>\n
The mixed development is expected to be a landmark in
\nJakarta's Golden Triangle district, which is expected to become
\nan international tourism and shopping belt.<\/p>\n
Candra said the mall was expected to be completed in early
\n1999, and the two hotel towers would be finished by early 2000.<\/p>\n
"Once the project is completed, it will be expected to draw
\nbetween 200,000 and 300,000 people every week," he said. (13)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ciputra-adigraha-gets-260m-loan-1447893297",
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"sponsor_url": "https:\/\/okusiassociates.com"
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