Great River secures loan

JAKARTA (JP): PT Great River Industries, a listed garment maker, secured yesterday a syndicated loan of US$75 million to finance its expansion plans, a company statement read.

The statement, made available to the press yesterday, states that the three-year loan was extended with an annual interest rate of 1.5 percent above the Singapore Inter-Bank Offered Rate.

The loan agreement was signed in Singapore yesterday, it stated.

The loan was arranged by the Dai-ichi Kangyo Bank and provided by 15 leading regional banks, including Mitsubishi Bank and Sakura Bank. (hdj)