Dharmala gets $55m loan

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.