GM subsidiary gets loan

Fri, 22 Dec 1995

JAKARTA (JP): PT General Motors Buana Indonesia (GMBI) has secured a loan facility amounting to US$36 million from a syndication of foreign and joint-venture banks.

Citicorp International Limited, which is acting as the agent, said yesterday that the facility, originally set at $30 million, was signed in Singapore on Thursday.

GMBI is an automotive company 60-percent owned by General Motors Corporation of the United States and 40 percent by PT Garmak Motors. (hen)

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