Great River gets $150m loan<\/p>\n
JAKARTA (JP): Publicly listed PT Great River International
\nsecured a US$150 million syndicated revolving credit facility
\nwith a maturity of five years in Singapore yesterday.<\/p>\n
The company, a major integrated apparel manufacturer and
\ndistributor in Indonesia, said it would use the loan facility to
\nincrease its working capital.<\/p>\n
The facility was the single largest foreign debt syndication
\nraised by the firm to date.<\/p>\n
It said that despite the current market's capacity to limit
\ntax-absorption, the company was able to raise 50 percent of the
\nfinance.<\/p>\n
The facility was arranged and fully underwritten by Deutsche
\nMorgan Grenfell (Singapore) Ltd.<\/p>\n
The co-arrangers are the Singapore branch of Bank Austria
\nAktiengesellschaft, Sakura Merchant Bank (Singapore) Ltd, and
\nTokyo-Mitsubishi International (Singapore) Ltd.<\/p>\n
Great River's net profit rose 93 percent to Rp 25.7 billion
\n(US$10.8 million) last year, while sales were up by 36 percent to
\nRp 268.9 billion. (bnt)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/great-river-gets-150m-loan-1447893297",
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