Branta Mulia's $35m loan

Branta Mulia's $35m loan

HONG KONG (Reuter): PT Branta Mulia Teijin Indonesia has mandated Societe Generale Asia and Sumitomo Bank to arrange a US$35 million term loan facility, the arrangers said.

The facility carries a maturity of seven years and repayment will be by nine semi-annual equal installments after three years' grace period.

The borrower is jointly owned by PT Branta Mulia with 70 percent and Teijin Limited of Japan with 30 percent.

Proceeds of the loan will be used to finance the borrower's polyester yarn plant.

Sumitomo Bank is the facility agent and PT Societe Generale Indonesia is the security agent.