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.