Rubber dealer gets loan

Tue, 01 Oct 1996, 00:00 WIB | Source: AFP

SINGAPORE (AFP): Rabobank Nederland said yesterday it had
arranged a US$150 million syndicated trade finance facility here
for Lewis and Peat (Rubber) Holdings Pte. Ltd., a member of
Indonesia's Bakrie group.

The facility, an "innovative hybrid" combining trade financing
and syndication, is the first of its kind in Singapore, the Dutch
bank said.

Rabobank will act as sole financier of the entire facility,
funding and controlling all future transactions for Lewis and
Peat as well as financing its futures contracts.

The facility, consisting of short-term advances, overdrafts,
freight financing, margin financing and letters of credit, will
be used by Lewis and Peat's companies in Singapore, London and
New York for their rubber trades.

Lewis and Peat is a 200-year-old rubber dealer 75 percent
owned by Jakarta-listed PT Bakrie Sumatra Plantation.

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