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)