Loan set for Sinar Angkasa

Loan set for Sinar Angkasa

HONG KONG (Reuter): A US$33 million loan facility for PT Sinar Angkasa Rungkut is in syndication, said arranger HSBC Investment Bank Singapore.

The borrower is manufacturer of fluorescent tubes and bulbs in Indonesia.

The facility is divided into two tranches.

The US$29 million term loan facility, Tranche A, has a maturity of five years and pays a margin of 200 basis points over the Singapore Interbank Offered Rate.

The US$4 million revolving credit facility, Tranche B, has a maturity of 2.5 years and pays a margin of 175 basis points over SIBOR.

There is a commitment fee of 25 basis points. Management fees were not disclosed.

Replies are due in mid-April.