Kabelindo gets $40m loan

JAKARTA (JP): PT Kabelindo Murni, a publicly-listed cable producer, said yesterday it had secured US$40 million in loans from a syndicate of 11 international banks.

The company said the syndicate would lend it $25 million in the short term to strengthen its working capital, and $15 million in the medium term to refinance its existing debt.

American Express Bank, Chase Manhattan Bank, ING Bank, Indover Bank, Royal Scotland Bank, China Trust Bank, Bapindo Hong Kong Bank, BRI Finance Ltd, Tat Lee Bank Ltd, Bank LTCB Central Asia and DCB Bank are members of the syndicate.

Chase Manhattan and American Express Bank were the lead arrangers of the loan. (alo)