Grahaniaga gets $105 million loan<\/p>\n
JAKARTA (JP): Property developer PT Grahaniaga Tatautama
\nsecured yesterday a US$105 million syndicated loan from 26 banks.<\/p>\n
The company's president, Mohamad S Hidayat, said $75 million
\nwould be used to finance the development of the second Niaga
\nTower in the Sudirman Central Business District.<\/p>\n
American Express Bank Ltd, Bank International Indonesia, Hong
\nKong branch of the state-owned Bank Bapindo and Bank Tiara
\narranged the loan.<\/p>\n
"By doing this, we will not have much of a loan burden from
\nNiaga Tower I," he said.<\/p>\n
The loans, which will mature in five years with a two-year
\ngrace period, carry an annual interest rate of 9.4 percent.<\/p>\n
Hidayat said Niaga Tower II, which cost US$130 million, would
\nbe completed in July 1999.<\/p>\n
"Total equity for second Niaga tower is worth US$30 million in
\nthe form of land," he said.<\/p>\n
When completed, Niaga Tower II will have banking and legal
\noffices.<\/p>\n
"Currently 70 percent of the space has been sold," he said.<\/p>\n
The price of the space in Niaga Tower II will range between
\nUS$2,500 and US$3,800 a square meter. "The penthouse is priced at
\n$3,800 per square meter," Hidayat said. (09)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/grahaniaga-gets-105-million-loan-1447893297",
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"sponsor_url": "https:\/\/okusiassociates.com"
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