Trakindo gets loan

Sat, 18 Mar 1995

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)

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