DKB to fund RI project<\/p>\n
TOKYO (AFP): Japan's Dai-Ichi Kangyo Bank (DKB) has set up an
\ninternational loan syndicate to finance a project to build and
\noperate a telephone network in Indonesia, a press report said
\nWednesday.<\/p>\n
The industrial newspaper Nihon Kogyo Shimbun said the 25-bank
\nsyndicate would extend US$480 million over nine-and-a-half years
\nfor the 840 million dollar project.<\/p>\n
The project has been undertaken by Japan's Nippon Telegraph
\nand Telephone Corp. (NTT) and other companies, the newspaper
\nsaid.<\/p>\n
It added that the syndicate was lead-managed by DKB, Deutsche
\nMorgan Grenfell and Australia and New Zealand Banking Group (ANZ)
\nand included Paribas Bank of France and major Japanese commercial
\nbanks such as Sakura, Sumitomo and Fuji.<\/p>\n
The loan arrangement includes a currency swap of $35 million
\nfrom local currency to U.S. dollars for proceeds from the phone
\nbusiness to avoid exchange losses as a result of a possible
\ndecline in the local currency, the rupiah, the newspaper said.<\/p>\n
The phone project calls for NTT to build a telephone network
\nto secure 400, 000 circuits in central Java by the end of March
\n1999.<\/p>\n
DKB aims to win loan deals for telephone projects being
\nconsidered by NTT in other parts of Asia, namely Vietnam, the
\nPhilippines, India and China, the newspaper said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/dkb-to-fund-ri-project-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}