Steady Safe gets loans

Mon, 24 Jun 1996, 00:00 WIB | Source: JP

JAKARTA (JP): Land transportation firm PT Steady Safe has
received syndicated loans of US$100 million from 20 overseas
banks arranged by Hongkong Shanghai Banking Corporation,
Singapore.

Steady Safe said in a statement over the weekend that the
interest rate of the loans was set at 1.7 points above the
Singapore Inter-Bank Offered Rates.

The agreement on the loans was signed in Singapore Thursday.

The statement said the loans will be used to finance the
company's business expansion to provide 1,000 additional public
buses for operations in the greater Jakarta area.

Steady Safe, in cooperation with the city administration-owned
PPD, currently operates 248 air-conditioned buses in
Jakarta.(kod)

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