HSBC gives $292m loan to Pertamina

HSBC gives $292m loan to Pertamina

JAKARTA: Banking giant HSBC signed on Tuesday a US$292 million
syndicated loan agreement to finance the import of crude oil by
state oil and gas company Pertamina.

HSBC is the lead arranger and sole book runner for the loan,
which was raised from several sharia banks and is to be disbursed
to Pertamina via the sharia banking system.

Contributing institutes include sharia banks, such as the
Dubai Islamic Bank, Kuwait Finance House and DEPFA, as well as
conventional banks from Europe, Asia and the Middle East, HSBC
said in a statement.

HSBC Indonesia chief executive officer Richard McHowat said
the loan was the first global sharia syndicated loan originating
from Indonesia, and one of the largest arranged for the country
in the post-crisis period. -- JP