Mulia raises $125m loan

Mulia raises $125m loan

JAKARTA (JP): Mulia Industrindo, a ceramics tile and flat
glass producer listed on the Jakarta Stock Exchange, issued
floating rate notes worth US$125 million yesterday.

A company director, Tony Surjanto, said in a statement
yesterday that the interest rate of the notes, which will mature
in three years, is floated at 1.25 percentage points above the
London Interbank Offered Rates.

Proceeds from the issuance of the notes will be used to
restructure the loans of PT Muliaglass, one of Mulia
Industrindo's subsidiaries, he said.

The issuance of the three-year notes is supported by a number
of international financial institutions, with Bank of America, JP
Morgan and Bankers Trust acting as the main underwriters.

Mulia Industrindo, a member of the widely diversified Mulia
Group, expects a 65 percent increase in its net profit to Rp 112
billion ($48.9 million) this year from Rp 67.5 billion in 1995.
(hen)