Muliakeramik loan raised to $47.5 million

Muliakeramik loan raised to $47.5 million

HONG KONG (Reuter): The five-year loan issue for PT Muliakeramik Indahraya has been increased to US$47.5 million from US$40 million due to oversubscription, arranger Bankers Trust Hong Kong said yesterday.

The loan was launched on Oct. 4 and pays a margin of 180 basis points over the three or six-month London Interbank Offered Rate for direct lenders (including tax absorption fee 40 basis points). There are no puts and calls.

Fees are 90 basis points for lead managers and 75 basis points for managers. The all-in return to committing banks is 160-165 basis points for an average life of 3.65 years.

Arrangers, with US$5 million each, are Bankers Trust HK, Credit Lyonnais Indonesia, Commerzbank Singapore and Development Bank of Singapore.

Lead managers, with US$5 million each, are Banca Commerciale Italiana Singapore, Bank Austria HK, Creditanstalt Singapore and De Nationale Investeringsbank.

Managers are Malayan Banking Bhd and Mitsubishi Trust Singapore, with US$3 million each, and Duta International Finance, with US$1.5 million.

Signing has not yet been set.