Texmaco secures loan

Texmaco secures loan

HONG KONG (Reuter): An arranger group has formed for TPE International Finance BV's US$100 million secured floating rate note issue, bankers said.

The issuer is a special-purpose company wholly owned by P.T. Texmaco Perkasa Engineering, which also is guarantor of the deal.

Bank Negara Indonesia, Peregrine Fixed Income, Sumitomo Finance Asia, Bankers Trust, OUB and Seoul Bank are the arrangers.

The facility has a final maturity of five years with a put and a call option in year three. The issue will be priced at par to float at 300 basis points over the six-month London Interbank Offered Rate.

With fees, the all-in return offered to the syndicate is around 330 basis points.