RI paper firm gets $50m loan<\/p>\n
JAKARTA (JP): The Hong Kong-based Citicorp International Ltd.
\nannounced yesterday that a syndication of banks have approved a
\nUS$50 million loan for a paper board manufacturing firm, PT Fajar
\nSurya Wisesa, to finance its expansion project.<\/p>\n
A Citicorp director, Clarence T'ao, said in a statement made
\navailable here yesterday that Citicorp acted as the main arranger
\nof the loan facility and Citibank NA's Jakarta office acted as
\nits security agent.<\/p>\n
"The facility was oversubscribed with 11 banks participating,"
\nhe said.<\/p>\n
The participating banks included Bank Bumiputra Malaysia
\nBerhad, PT Bank Credit Lyonnais Indonesia, Bank of Tokyo Ltd.,
\nCitibank NA's Jakarta office, the Development Bank of Singapore
\nLtd., Hongkong and Shanghai Banking Corporation Ltd.,
\nNetherlandse Financierings Maatschappij voor Ontwikkelingslanden
\nNV, PT Bank LTCB Central Asia, Deuthsche Bank AG in Jakarta, PT
\nIBJ Indonesia Bank and Kansali Osake Pankki in Singapore.<\/p>\n
T'ao said the loan will be used to finance the installation of
\nnew production machinery for Fajar Surya Wisesa and the provision
\nof a power generation facility.<\/p>\n
The company's president, Winarko Sulistyo, said recently that
\nits expansion plan is expected to increase its output capacity
\nfrom 220,000 tons of paper and boards per annum at present to
\n500,000 tons by the end of this year. (fhp)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-paper-firm-gets-50m-loan-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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