NISP, OCBC lends $35m to Wynncor

JAKARTA: Mid-size Bank NISP and Singapore-based OCBC Bank announced on Thursday that they had agreed to provide some US$35 million in a syndicated loan to PT Wynncor Bali, a subsidiary of publicly listed property firm PT Jakarta Setiabudi International.

Both banks are acting as mandated lead arrangers for the loan.

The loan, which will have a five-year maturity, will be used for renovating and rejuvenating the Grand Hyatt Nusa Dua Bali Hotel.

Aside from Jakarta Setiabudi, Japan-based Itochu Corporation and U.S.-based Hyatt International also have some shares in Wynncor. -- JP