CA's loans restructured

CA's loans restructured

TOKYO (Nikkei): Japanese banks have agreed to reschedule
US$180 million of loans to Indonesian petrochemcial venture PT
Chandra Asri Petrochemical Center, the Nihon Keizai Shimbun
reported in its Saturday morning edition.

The Export-Import Bank of Japan, Fuji Bank and Bank of Tokyo-
Mitsubishi agreed with Japan Indonesia Petrochemical Investment
Corp, an investment firm set up by Marubeni and others, to
suspend debt repayments until August 2001.

Chandra Asri, a venture between Marubeni Corp, Showa Denko KK
and others, was set up with the backing of Japan Indonesia
Petrochemical Investment.

Completion of repayments will be postponed to February 2009
from the originally scheduled 2006.

Chandra Asri's has borrowings totaling $472 million from the
three banks.

Indonesian banks have also reached agreement to reschedule
debt with Indonesian investors in Chandra Asri.