Bakrie seeks $75m loan

Bakrie seeks $75m loan

HONG KONG (Reuter): PT Bakrie Sumatera Plantation has mandated Credit Suisse to arrange a US$75 million financing facility, bankers said.

The facility has two tranches.

Tranche A is a US$65 million term loan and tranche B is a US$10 million revolver.

Both tranches carry the same maturity and pricing. The facility has a maturity of three years extendible to five years.

Pricing details are not available yet.

The amount has been fully underwritten, bankers said.

Proceeds are to be used for financing the borrower's oil palm plantation and for general working capital.

Co-arrangers are Credit Lyonnais (Indonesia), Hongkong Bank Indonesia and PT Sumitomo Niaga.