PT Kabelindo gets $40m syndicated loan<\/p>\n
JAKARTA (JP): PT Kabelindo Murni, a publicly-listed cable
\nmanufacturer, has signed an agreement on a five-year syndicated
\nloan of US$40 million, available either in U.S. dollars in
\nrupiah.<\/p>\n
Chase Investment Bank (Singapore) Limited, which arranged the
\nloan, said in a statement yesterday that the loan, which was
\nsigned here on Thursday, was the first syndicated loan for
\nKabelindo.<\/p>\n
The loan was divided into two tranches, a US$25 million
\nrevolving-credit tranche and a $15 million medium-term tranche.<\/p>\n
The revolving-credit tranche has an interest margin of 1.5
\npercent per annum over the cost of the fund with a tenor of one
\nyear, which is extendible for another year up to a maximum of
\nfive year.<\/p>\n
The medium-term tranche carries an interest margin of two
\npercent per annum over the cost of the fund and a tenor of five
\nyears with a put option exercisable at the end of the third year.<\/p>\n
The statement mentioned that even though a total of $51
\nmillion was raised from the nine banks in the general syndication
\nmarket, the company decided to retain the facility size at $40
\nmillion.<\/p>\n
Kabelindo is 33.93 percent owned by PT Rawayan Indah, 26.79
\npercent by PT Austindo Nusantara Jaya, 10 percent by PT PLN's
\nEducation and Welfare Foundation, 7.71 percent by Global Telcom
\nFund and 21.57 percent by the investing public.<\/p>\n
The lead managers of the deal were the Chase Manhattan Bank,
\nN.A. (which provided $6 million), PT Bank PDFCI ($6 million),
\nAmerican Express Bank Ltd. ($6 million) and ING Bank Jakarta ($5
\nmillion).<\/p>\n
The managers were PT Bank Credit Lyonnais Indonesia ($4
\nmillion), PT Bank Societe Generale Indonesia ($4 million) and PT
\nInter-Pacific Bank ($4 million), while the co-managers were DBS
\nBuana Tat Lee Bank ($3 million) and PT Bank LTCB Central Asia ($2
\nmillion).<\/p>\n
The company reported sales revenues of Rp 115 billion (US$51.3
\nmillion) last year, up from Rp 100.6 billion in 1993, while its
\nnet profit decreased to Rp 5.87 billion from Rp 9.64 billion.
\n(31)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pt-kabelindo-gets-40m-syndicated-loan-1447893297",
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