Trakindo gets loan

Trakindo gets loan

JAKARTA (JP): A syndicate of Singapore-based banks have agreed
to provide a US$20 million loan to PT Trakindo Utama, the
Indonesian dealer for Caterpillar heavy equipment.

The loan facility, signed here this week, was arranged by
Singapore branches of Barclays Bank Plc. and the Mitsubishi Bank
Limited.

A Trakindo executive said yesterday that loan proceeds will be
utilized partly to repay the company's bank borrowings and to
provide additional working capital. (hen)