Suryalaya reschedules debts

JAKARTA (JP): PT Suryalaya Anindita International, the owner of several star-rated hotels in the country, has reached an agreement with its creditors to restructure its US$34.99 million debt, the company said on Thursday.

Under the agreement signed on April 26, the repayment would be made in nine years, including a grace period of two years, the company said in a statement.

About $17.05 million or about 48 percent of the total debts are owed to the Indonesian Bank Restructuring Agency (IBRA) and the other $17.94 million to Bank Internasional Indonesia, Bank Universal and Bank Haga.

The company said that debts to IBRA will carry an interest rate of 3.5 percentage points on the top of the Singapore Interbank Banks Offered Rate (Sibor) per annum while those to the three banks would be floated with the weighted average time deposit rate, plus a premium of 3.5 percentage points.

Suryalaya, which is 48.05 percent owned by PT Surya Semesta Internusa, is the owner of Melia Bali Villa and Spa Resort in Nusadua, Bali and the Grand Melia Jakarta hotel.(hen)