Indofood gets $125m loan<\/p>\n
JAKARTA (JP): PT Indofood Sukses Makmur, a publicly-listed
\nfood manufacturing company, has secured a 5-year loan worth
\nUS$125 million from a syndication of foreign banks.<\/p>\n
The company said in a statement yesterday that the proceeds
\nfrom the loan facility will be used to finance the final phase of
\nthe flour milling capacity expansion of its subsidiary PT
\nBogasari from 2.4 million tons per annum at present to 3.5
\nmillion tons. The expansion will be completed in 1997.<\/p>\n
\"We believe that the demand for flour will remain strong in
\nthe domestic market,\" said the statement.<\/p>\n
Indofood, which is controlled by Indonesia's largest
\nconglomerate Salim Group, claims to be the world's largest
\nmanufacturer of instant noodles and Indonesia's largest maker of
\nwheat flour -- the raw material for noodles.<\/p>\n
The company -- which is controlled by Liem Sioe Liong, also
\nknown as Sudono Salim -- produces a wide range of instant noodles
\nand has an estimated 90 percent share of Indonesia's instant
\nnoodle market.<\/p>\n
The loan was arranged by Citicorp Investment Bank of
\nSingapore, Commerzbank, Credit Lyonnais, Kredietbank, Korea
\nDevelopment Bank, NatWest Markets and Sakura Merchant Bank of
\nSingapore.<\/p>\n
According to the statement, 22 international banks
\nparticipated in the loan facility, which was said to be
\noversubscribed by more than 100 percent. (13)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/indofood-gets-125m-loan-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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