Duta Anggada secures loans

Thu, 14 Nov 1996, 00:00 WIB | Source: JP

JAKARTA (JP): A syndicate of 14 foreign and local banks agreed
yesterday to provide Rp 80 billion (US$33.9 million) in revolving
loans to property developer Duta Anggada Realty.

The publicly-listed company announced yesterday the three-year
syndicated loans, arranged by Bank Tiara Asia and American
Express Bank Ltd, would be used to repay its short-term debts.

The revolving loans' interest rate was set at 3 percent above
the Jakarta Inter Bank Offered Rate (JIBOR).

Duta Anggada said it had initially planned to raise Rp 25
billion from the syndicated loans, but due to the banks'
enthusiasm the amount was raised to Rp 80 billion. (hen)

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