Steady Safe raises loans

JAKARTA (JP): PT Steady Safe, a publicly listed transportation company, secured a syndicated loan of US$100 million in Singapore yesterday.

Steady Safe's president, Yopie Wijaya, said that the loan provided by 20 international banks carries an interest rate of 1.7 points above the Singapore Inter-bank Offered Rate per annum.

He said his company would use the loan to buy 1,000 buses as part of its program to expand its fleet.

The Singapore branch of the Hongkong Shanghai Banking Corporation acted as the lead manager of the loan syndication.(hen)