Rubber dealer gets loan<\/p>\n
SINGAPORE (AFP): Rabobank Nederland said yesterday it had
\narranged a US$150 million syndicated trade finance facility here
\nfor Lewis and Peat (Rubber) Holdings Pte. Ltd., a member of
\nIndonesia's Bakrie group.<\/p>\n
The facility, an \"innovative hybrid\" combining trade financing
\nand syndication, is the first of its kind in Singapore, the Dutch
\nbank said.<\/p>\n
Rabobank will act as sole financier of the entire facility,
\nfunding and controlling all future transactions for Lewis and
\nPeat as well as financing its futures contracts.<\/p>\n
The facility, consisting of short-term advances, overdrafts,
\nfreight financing, margin financing and letters of credit, will
\nbe used by Lewis and Peat's companies in Singapore, London and
\nNew York for their rubber trades.<\/p>\n
Lewis and Peat is a 200-year-old rubber dealer 75 percent
\nowned by Jakarta-listed PT Bakrie Sumatra Plantation.<\/p>",
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"sponsor": "Okusi Associates",
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