Hexindo gets $37m loan

Tue, 06 May 1997, 00:00 WIB | Source: JP

JAKARTA (JP): Heavy equipment distributor PT Hexindo
Adiperkasa has secured a US$37 million syndicated loan arranged
by the Sanwa Bank's Singapore branch and Japan's LTD.

The long term loan, provided by ten Jakarta and Singapore
banks in an agreement signed in Singapore on Wednesday, has an
interest rate 1.8 basis points above the Singapore Inter-bank
Offered Rate,

The company's president, Rustam Effendi, said Hexindo would
use the loan to improve its after-sales service, increase its
capital and pay its short term loans.

Hexindo's sales of heavy equipment reached a new high of more
than 1,000 units last year. (13)

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