Sampoerna gets $150m loan

Sampoerna gets $150m loan

JAKARTA (JP): Publicly-listed H.M. Sampoerna has successfully
raised US$150 million in a term loan and revolving credit
facility from a group of 19 international banks and financial
institutions.

The company announced over the weekend that the loan facility
would be used to refinance the company's existing loans and to
finance the general working capital needs of the company and its
subsidiaries.

Of the $150 million syndicated facility, the $50 million
revolving credit facility is for a one year period, extendible
annually to five years, while the $100 million term loan facility
is for a five year period, with a put option exercisable by
lenders at the end of the third year.

Sampoerna, one of the country's major clove-blended cigarette
manufacturers, is listed on the Jakarta and Surabaya stock
exchanges. (hen)