Wed, 02 Aug 2000

Indofood settles debts

JAKARTA (JP): Publicly listed instant noodlemaker PT Indofood Sukses Makmur said on Monday it had repaid debts amounting to US$240 million and Rp 625.9 billion ($70 million).

Indofood's chief executive officer, Eva Riyanti Hutapea, said in a statement that the $240 million installment was part of a payment on a $300 million syndicated loan raised by the company in 1995 to partly finance the acquisition of PT Bogasari Flour Mill.

The 1995 syndicated loan, she said, comprised of BA Asia Limited, Bankers Trust Company, Chase Manhattan Asia Limited, Fuji Bank Limited, The Bank of Tokyo, Mitsubishi Limited and Bank Central Asia.

He said the Rp 625.9 billion was paid to service loans from Bank Central Asia.

Eva said that with the debt repayments, Bogasari had become a "debt free asset". (bkm)