RI seeks standby loan

RI seeks standby loan

HONG KONG (Reuter): The Republic of Indonesia, acting by and through the Bank of Indonesia, has mandated six banks to arrange an eight-year US$500 million syndicated standby facility.

The coordinating arrangers are Chase Manhattan (S.E.A.), the overall bookrunner and coordinator, BOT International (HK), the facility agent, Banque Nationale de Paris (Singapore), the signing coordinator, DKB Asia, the publicity coordinator, Dresdner (South East Asia), the documentation coordinator, and IBJ Asia, the Japanese bookrunner.

The facility matures in eight years and is structured as a revolving credit throughout its life.

The deal pays an interest margin of 62.5 basis points over the six-month London Interbank Offered Rate. There is a commitment fee of 31.25 basis points.

An expanded arranger group is being formed now. An upfront fee of 52.5 basis points will be payable to arrangers for underwriting and management.