Indofood gets $100 million loan

Indofood gets $100 million loan

JAKARTA: Giant publicly listed instant noodle maker PT
Indofood Sukses Makmur confirmed on Tuesday it has obtained a
US$100 million loan facility from Hong Kong based ING Structured
Finance.

Indofood spokesman Indra Josepha said the company had secured
the loan in a deal last week, and would use it as working
capital.

Earlier Indofood said it had sought funds to refinance around
$250 million in debts maturing this June. It was not immediately
clear whether the company was still in the market for the loan.

Indofood said that loan offers had been abundant, but added it
could pay off the debts using internal funds as well.

ING Structured said that Indofood's U.S. dollar loan facility
was the largest an Indonesian company had secured offshore since
the 1997 financial crisis. -- JP