Rama sets revolving loan

Rama sets revolving loan

HONG KONG (Reuter): PT Rama Multi Finance has mandated BII Capital Markets to arrange a US$100 billion two-tranche revolving facility, Bank Internasional Indonesia said.

Tranche A is a Rp 60 billion revolving underwriting facility. It has a maturity of three years and pays a committed margin of 0.75 percent per annum.

The spread is 2.75 percent per annum over the weighted average time deposit of the managers IDR Time Deposit Rate.

Tranche B is a US$15 million revolving credit facility. It has a final maturity of three years with a put option on the second anniversary.

It pays a margin of 300 basis points over the six-month Singapore Interbank Offered Rate (SIBOR) for year one and two, and thereafter 310 basis points over the six-month SIBOR.

Underwriting fees for both tranches are 40 basis points for committing rP 2 billion (or U.S. dollars equivalent) and more, 50 basis points for committing rP 6 billion (or U.S. dollars equivalent) and more, and 60 basis points for committing Rp 10 billion (or U.S. dollars equivalent) and more.