Bank Tiara signs $20m loan

Bank Tiara signs $20m loan

HONG KONG (Reuter): PT Bank Tiara Asia signed a US$20 million term loan facility with six international banks, the arrangers said.

The loan has a maturity of three years and pays a margin of 90 basis points over the Singapore Interbank Offered Rate.

Arrangers are AFC Merchant Bank with US$4 million, Indover Bank with US$5 million, and Sanwa Bank's Singapore branch with US$3 million.

Other lenders participating are Dai-Ichi Kangyo Bank's Singapore branch and Oversea-Chinese Banking Corp with US$3 million each, and Bank Austria's Singapore branch with US$2 million.