Astra to borrow $120m, Rp 600b

Sat, 18 Sep 2004, 00:00 WIB | Source: AP

JAKARTA: PT Astra International, Indonesia's biggest
automobile distributor, said it's borrowing US$120 million and Rp
600 billion ($66.4 million) in a dual-currency loan from six
lenders.

The three-year loan charges 2.5 percent a year more than the
Singapore inter-bank overnight rate for U.S. dollars, Astra said
in a statement.

ABN Amro Holding NV, BNP Paribas, Citigroup Inc.'s Citigroup
Global Markets Asia Ltd., HSBC Holdings Plc's Hongkong and
Shanghai Banking Corp. Ltd., Standard Chartered Plc and Sumitomo
Mitsui Banking Corp. are arranging the loan.

Astra International, almost 42 percent owned by Singapore-
based Jardine Cycle & Carriage Ltd., said earlier this week that
it would pay ahead of schedule $122 million of debt due at the
end of this month. That would leave it with $125 million of debt
maturing on June 30, 2006, it planned to re-finance. --Bloomberg

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