Bank Universal top arranger of rupiah loans

Bank Universal top arranger of rupiah loans

JAKARTA (JP): Loans worth Rp 4.39 trillion were syndicated
last year and most of these transactions were completed prior to
Aug. 14, the day the rupiah was floated.

Data collected by Basisfield League Table, the database arm of
Basis Point -- a Hong Kong-based weekly newsletter covering Asian
debt markets -- showed that only Rp 2 billion of the deals were
finalized after Aug. 14.

"The 1997 table is particularly interesting given the current
financial crisis," Basisfield said in a statement yesterday.

"The volume of the deals in 1997 is unlikely to be matched in
1998, with many of the banks appearing on the table unable to do
any new business at present."

According to the organization, Bank Universal tops the list of
arrangers of Indonesian rupiah loans for 1997, having set up a
total of Rp 538.4 billion in syndicated term loans and project
finance facilities.

Coming in a close second was Bank PDFCI, with three deals
amounting to Rp 533.3 billion.

Basisfield said the market for syndicated rupiah deals had
been dominated by private banks.

State banks have traditionally been the major lenders of
rupiah, but the majority of their loans were club deals and
bilaterals, and typically not reported. (rid)

Table: Rupiah Syndicated Loans 1997

Amount Deals

Arranger (in billions)

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Bank Universal 538.4 3

Bank PDFCI 533.4 3

Bank Internasional Indonesia 518.4 3

Bank Danamon 508.4 2

Bank Negara Indonesia 408.4 1

Bank Rakyat Indonesia 408.4 1

Bank Niaga 294.7 5

Bank Tamara 292.5 3

Bank Bali 190 2

Bank Umum Servitia 110 3

Bank Ficorinvest 100 1

Bank Tiara Asia 80 1

Bank Dagang Nasional Indonesia 75.2 1

Bank Duta 75.2 1

Bank Finconesia 63 2

Bank Rajawali 60 1

Bank Bira 45 1

Makindo Securities 37.5 1

Bank Ciputra 26 1

Bank Kredit Asia 22.2 1

Bank Nusa Internasional 8.5 1

Total 4,395.3 38

Note: The Basisfield League Table derives its information from
Basis Point, with all deals individually checked with the banks
listed. All Indonesian banks have been given the opportunity to
comment on league table positions. All loans and project finance
facilities signed in 1997 are included. Where deals have been
underwritten but are to be syndicated, only the syndicated
signing counts. Senior level arrangers are only counted with
amounts prorated. Club deals are included, bilaterals are not.