Asiana gets $16m loan

JAKARTA (JP): The publicly-listed PT Asiana IMI Industries, the manufacturer and distributor of stuffed toys, has secured a syndicated loan of US$16 million from six foreign and joint venture banks.

PT Asiana's President Edward Sumardi said yesterday that the loan would be used to increase his company's working capital and to finance its expansion.

He said that the loan will have an interest rate of 2.25 percent above the Singapore Inter-Bank Offered Rate (Sibor).

The syndicated loan was arranged by Inter-Pacific Bank, with syndication members including BNP Lippo Indonesia, Bank DBS Buana Tat Lee, Bank LTCB Central Asia, ABN Amro Bank, and Bank Societe Generale Indonesia. (Bnt)