UIC restructures US$138.8m debt<\/p>\n
JAKARTA (JP): Publicly listed chemical producer PT Unggul
\nIndah Corp. (UIC) announced on Sunday it had successfully
\nrestructured US$138.8 million in debt.<\/p>\n
The company said in a statement a debt restructuring agreement
\nwas reached with its 23 bank creditors after a series of
\nnegotiations which began in 1998.<\/p>\n
\"We really appreciate the confidence and trust shown by the
\nlenders to our management and our company's performance,\" UIC
\npresident Hartono Gunawan said.<\/p>\n
\"Despite the slightly higher interest rate, the agreement
\nreached will afford UIC significant flexibility to respond to
\nmarket developments,\" Gunawan said without revealing the terms of
\nthe agreement.<\/p>\n
The restructuring plan was approved by the company's
\nshareholders in May, he said.<\/p>\n
The $138.8 million debt comprises $107.2 million in syndicated
\nloans and $31.6 million in bilateral loans, the statement said.<\/p>\n
UIC is the sole Indonesian producer of AB-Alkylbenzene, which
\nis used in detergents. It is also Southeast Asia's largest
\nproducer of the product. (jsk)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/uic-restructures-us1388m-debt-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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