GT Petrochem gets loan

Tue, 15 Jul 1997, 00:00 WIB | Source: JP

JAKARTA (JP): PT GT Petrochem Industries, a diversified
Indonesian petrochemical company, announced yesterday that it had
secured US$300 million in syndicated loans from 22 international
financial institutions.

The loan facility, raised through its wholly owned subsidiary
GTPI Netherlands B.B, would be used by GT Petrochem to refinance
existing short-term loan and refinance its synthetic rubber plant
and other expansion projects.

Sjamsul Nursalim, chairman of the Gadjah Tunggal Group, the
company's parent shareholder, said the five-year loan facility
with amortization starting at the end of the third year carried
an interest margin of 0.98 percent over Singapore Interbank
Offered Rates per annum.

Arrangers of the loan included ABN AMRO Bank, N.V.; BA Asia
Limited; Banque Paribas and Bayerische Vereinsbank AG. (hen)

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