Dharmala Intiland borrows

Dharmala Intiland borrows

HONG KONG (Reuter): Indonesian property company PT Dharmala
Intiland and a special-purpose company incorporated in the
Netherlands have launched a US$45 million transferable loan
certificates facility, arranger Overseas Union Bank said.

The five-year loan is guaranteed by PT Dharmala Intiland and
has a put option at the end of year four. The margin is 300 basis
points over the Singapore Interbank Offered Rate.

With fees, the all-in return for top-tier managers is 328
basis points.

Repayment will be in semi-annual installments of US$1.5
million commencing six months from the loan agreement date and
balloon to be paid at maturity.

Proceeds will be used to refinance existing loans and for
general working capital.

The other arranger is Bank Bira.

Dharmala Intiland is a unit of the Dharmala Group.