Dharmala gets $55m loan

JAKARTA (JP): Property developer PT Dharmala Intiland has secured a US$55 million transferable loan facility from 14 onshore and offshore banks and financial institutions.

The company said yesterday $32 million of the syndicated loan, jointly arranged by Bank Bira and Overseas Union Bank of Singapore, would be used to refinance its existing loans and the rest for strengthening its working capital.

The participating banks are Bank Sumitomo Niaga, Sime International Bank (Labuan) Ltd., Sime Bank Berhad of Singapore, Bank Merincop, Bank Rama and Bank of China Singapore Branch, Far Eastern International Bank Offshore Branch, the Royal Bank of Scotland Plc. Singapore Branch, E. Sun Commercial Ltd. offshore branch, Bank Korea Commercial Surya and Sembawang Capital Pte. Ltd.