Konimex gets $20m loan<\/p>\n
SINGAPORE (AFP): France's Banque Nationale de Paris signed an
\nagreement yesterday to lead manage a US$20 million medium-term
\nloan for the expansion of a privately-owned Indonesian
\npharmaceutical company.<\/p>\n
The banks participating in the loan for Solo-based PT Konimex
\nare the Dutch ABN-AMRO Bank, France's Banque Francaise de
\nCommerce Exterieure, Belgium's Bank Brussels Lambert and
\nIndonesian bank PT Bank Niaga.<\/p>\n
Bank officials said the loan, which carries an interest rate
\nof 2.15 percent above the Singapore Interbank Offered Rate,
\nmatured in two years but the lender had the option to extend it
\nannually for another two years.<\/p>\n
Speaking at the loan signing ceremony, Didier Balme, chief
\nexecutive of BNP's Singapore branch, said Konimex had grown from
\na company with a turnover of $5 million in 1980 to a leading
\npharmaceutical firm with sales exceeding $40 million last year.<\/p>\n
Konimex director Edijanto Joesoef said the company would use
\nthe funds to expand its confectionery business as well as for
\nregional expansion.<\/p>\n
Confectionery accounts for 36 percent of the company's
\nturnover last year with pharmaceuticals making up the remaining
\n64 percent.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/konimex-gets-20m-loan-1447893297",
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