Dharmala gets $16.9m loan

Dharmala gets $16.9m loan

JAKARTA (JP): PT Dharmala Intiland has signed an agreement
with a bank syndication led by the Palmerah branch of Panin Bank
to secure a loan of Rp 40 billion (US$16.9 million).

The company said yesterday that the fund will be used to
finance the development of the Wisma Dharmala building in
Surabaya, East Java.

The 10-year-term loan will pay for 55 percent of the project,
while the remainder will be financed with equity, the company
said.

The syndication includes Tamara Bank, Pikko Bank, Universal
Bank, Metropolitan Bank and Nusantara Parahyangan Bank. (jsk)