Bakrie signs yen loan

JAKARTA (JP): Public firm PT Bakrie & Brothers signed Euro yen syndication loans worth 14 billion yen (US$115 million) yesterday.

PT Bakrie & Brothers president Tanri Abeng said the loans would be used to finance the expansion of the firm's core business.

The loan will mature in 2000 and was arranged by Peregrine Fixed Income Limited, IBJ Asia, SBC Warwung, Sumitomo Finance, Hongkong and Shanghai bank Corporation Limited, Asahi Finance Limited, Fuji International Finance and Salomon Brothers Hong Kong Limited.

He said the firm obtained loans worth $175 million last November so its medium and long term debts reached Rp 2.1 trillion in this year's first quarter. (09)