PT Surya Hidup raises loan

PT Surya Hidup raises loan

HONG KONG (Reuter): PT Surya Hidup Satwa's three-year term loan issue has been increased to US$32 million from $30 million because of oversubscription, said arranger Mitsubishi Bank Singapore.

The loan was launched on November 16 and pays a margin of 160 basis points over the Singapore Interbank Offered Rate. There is a put option in year two.

Proceeds of the loan will be used for refinancing existing debts and additional working capital.

Fees are 20 basis points for lead managers and 15 basis points for managers. There is a commitment fee of 25 basis points.

Arrangers, with US$5 million each, are Bank Brussels Lambert Singapore and Mitsubishi Bank Singapore.

Lead managers, with US$5 million each, are Overseas Union Bank Singapore and Agricultural Bank of China Singapore.