Hotel Sahid gets $40 million loan<\/p>\n
JAKARTA (JP): PT Hotel Sahid Jaya International signed an
\nagreement yesterday on a US$40 million term loan facility with a
\nsyndicate of international banks to finance the development of
\nits Menara Sahid office tower.<\/p>\n
"The loan, which matures within four years, will be used to
\nfinance the 38-story office building," said Chairman and
\nPresident of the Sahid Group, Sukamdani S. Gitosardjono.<\/p>\n
The arranger of the syndicated loan is Schroder International
\nMerchant Bankers Limited (Schroders). Thirteen other banks and
\nfinancial institutions took part in the syndication.<\/p>\n
Sukamdani, his wife Juliah and his children Nugroho, Haryadhi,
\nExacty and Wiryanti, signed the loan agreement documents.<\/p>\n
Robert M. Tomlin of Schroders and thirteen other executives
\nfrom the international finance institutions representing the
\ncreditors also signed the documents.<\/p>\n
"Of the loan, $30 million will finance the office building
\nproject, located next to the hotel (in the Sahid City Superblok)
\non Jl. Jendral Sudirman here," said Sukamdani, adding that the
\nremaining $10 million will be used to refinance the Sahid Jaya's
\nloans from other banks.<\/p>\n
He said the office building, worth $99 million, is scheduled
\nto be finished in early 1998 and will be sold under the strata
\ntitle system.<\/p>\n
Hotel Sahid Jaya International, which listed some of its
\nshares on the Jakarta Stock Exchange in 1990, operates 16 hotels
\nin Indonesia and is also engaged in banking, insurance, general
\ncontracting, printing, general trading, textiles, integrated
\nwood-based industries, tour and travel services, money changing,
\nagriculture and food and beverages.<\/p>\n
The company reported total assets of Rp 199 billion (US$89
\nmillion) as of last year, of which Rp 146 billion ($65 million)
\nwas equity.<\/p>\n
Sukamdani announced yesterday that his company will soon build
\na 50-story hotel, called Hotel Sahid Perdana, near the Sahid Jaya
\nHotel.<\/p>\n
The $130 million hotel project will be a five-star diamond
\nproperty with 600 rooms, he said. (kod)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/hotel-sahid-gets-40-million-loan-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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