Djarum signs $75m loan

Djarum signs $75m loan

HONG KONG (Reuter): Clove cigarette maker PT Djarum's US$75 million syndicated loan issue has closed, arranger American Express Bank Singapore said yesterday.

The five-year loan pays a margin of 112.5 basis points over the London Interbank Offered Rate. There is a put option in the third year.

With fees, the all-in return to top tier managers is 135 basis points.

Arrangers of the loan were American Express Bank, BOT International, Bank Brussels Lambert Singapore, Sanwa Bank Singapore, Societe Generale Asia and Sumitomo Singapore. Indover Bank acted as co-arranger.

A total of 14 banks joined the syndicate, American Express Bank said.