Suryalaya reschedules debts

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)