Argo Pantes raises loan

Argo Pantes raises loan

HONG KONG (Reuter): PT Argo Pantes two-year term loan facility has been increased to US$30 million from US$25 million because of oversubscription, said the arrangers.

The facility pays a margin of 200 basis points over the Singapore Interbank Offered Rate for direct lenders.

Proceeds will be used to refinance existing debts.

Arrangers are Sanwa Bank's Singapore Branch and Sumitomo Bank's Singapore Branch.

The other 10 banks in the syndicate are: Mitsui Trust & Banking Co, Toyo Trust & Banking Co, N.V. De Indonesische Overzeese Bank, Sakura Bank, Arab Banking Corp, PT Fuji Bank International Indonesia, PT Sanwa Indonesia Bank, Sumitomo Trust & Banking Co, PT Bank Merincorp and PT Tokai Lippo Bank.

The facility was signed on May 8 in Singapore.