Bakrie Investindo gets $100m facility

Bakrie Investindo gets $100m facility

JAKARTA (JP): PT Bakrie Investindo, one of the Bakrie Group's
three holding companies, received yesterday a US$100 million
financing facility arranged by Dongsuh Securities of South Korea.

The interest rate on the three-year loan is set at 2.7 points
above the six-month Singapore Inter-bank Offered Rate (SIBOR),
the company said in a statement.

The arrangers and lead managers of the loan are Dongsuh
Securities, KorAm Bank, Hana Bank and Voryo Merchant Bank. All of
the parties are from South Korea.

The statement reported that the proceeds will be used
primarily to finance Bakrie Investindo's ongoing and new projects
as well as to repay short-term borrowings.

The projects include the Taman Rasuna apartment, an 18-story
condominium building in Jakarta, and the Bali Nirwana Resort, a
hotel, leisure and 18-hole golf course complex in Bali.

The company, which last year issued exchangeable bonds of $121
million, also runs ANteve, a nationwide television broadcasting
service; a coal mine with a production capacity of 500,000 tons
per year in East Kalimantan; and a 500-hectare tourist resort in
Lampung. (icn)