Japfa signs $152m loans

JAKARTA (JP): PT Japfa Comfeed Indonesia, a publicly-owned animal feed processing firm, has secured a US$152 million credit facility from a group of syndicating banks.

The company said here Thursday that the loans were extended to Japfa and its subsidiary, Japfa Comfeed Nederland B.V. by 19 banks arranged by Citicorp International, Commerzbank Southeast Asia, Banque Paribas Singapore branch, Cho Hung Bank, Credit Lyonnais, DKB Merchant Bank Singapore, LTCB Merchant Bank Singapore and the Sakura Bank Singapore branch.

"Due to oversubscription of the facility, the loan was increased to $152 million from $150 million," it said.

Japfa, set up in 1971, is 51 percent controlled by PT Ometraco, the flagship investment holding company of the Santosa family. (icn)