Branta signs $35m loan

Branta signs $35m loan

HONG KONG (Reuter): PT Branta Mulia Teijin's US$35 million seven-year term loan facility was successfully completed and signed yesterday in Singapore, the arrangers said.

The borrower is jointly owned by PT Branta Mulia of Indonesia and Teijin Ltd of Japan, with 70 percent and 30 percent ownership respectively.

The facility pays a margin of 165 basis points over the Singapore Interbank Offered Rate to tax absorbing banks or 120 basis points over SIBOR to non-tax absorbing banks.

Fees are 80 basis points for managers and 70 basis points for co-managers.

Arrangers are Societe Generale Asia and Sumitomo Bank Singapore. Co-arrangers are Deutsche Morgan Grenfell, PT IBJ Indonesia Bank and Sanwa Bank Singapore.

Managers are Daiwa Bank Singapore and Sakura Bank Singapore. Co-managers are PT Fuji Bank International Indonesia and Toyo Trust & Banking Singapore.