PT CSI issues $75m notes

PT CSI issues $75m notes

HONG KONG (Reuter): PT Cheil Samsung Indonesia has launched a US$75 million term loan facility, bookrunner KDB Asia said on yesterday.

The five-year loan, which is guaranteed by Cheil Jedang Corp [18520.KS], has a put option in year three.

It pays a margin of 80 basis points over the six-month London Interbank Offered Rate.

With fees, the all-in returns are 109 basis points for co-lead managers committing US$6 million or more, 107 basis points for senior managers committing US$4-5 million and 105 basis points for managers committing US$3 million.

In addition to KDB Asia, arrangers are ABN Amro Bank, Bankers Trust Co and Hanil International Finance.

Shareholders of the joint venture are Cheil Jadang Corp with 82.5 percent, Cheil Jedang Corp (Hong Kong) with 12.5 percent, and Samsung Corp with five percent.

Proceeds will be used for the expansion of lysine production capacity.