Two firms secure loan facilities

Two firms secure loan facilities

JAKARTA (JP): PT Pramindo Ikat Nusantara and PT Eternal Buana
Chemical secured US$400 million and US$43 million respectively
yesterday in syndicated loan facilities.

Pramindo Ikat announced that its loans were pledged by 31
financial institutions, with Banque Nationale de Paris, Chase
Manhattan Asia Limited, the Fuji Bank Limited, International
Finance Corporation and Societe Generale Asia Limited acting as
arrangers.

The co-arrangers included Bank of Tokyo-Mitsubishi Ltd, Banque
Paribas, Bayerische Hypotheken-und Wechsel-Bank, AG, Credit
Lyonnais, Keppel Bank of Singapore Limited, LTCB Merchant Bank
(Singapore) Limited, Toronto-Dominion Bank and Westdeutsche
Landesbank Girozentale.

The company said that the loans would be used to finance the
development of its telecommunications project in Sumatra.

Eternal Buana, meanwhile, said that its loan facilities
comprised a $21.5 million term loan and a $21.5 million revolving
credit, both with maturities of five years.

It said that the funds from the term loan will be used to
refinance its borrowing, while the revolving credit will be used
to strengthen its working capital structures.

Participants of the syndicated facilities include the Jakarta
branch of Hongkong and Shanghai Banking Corporation Limited, Bank
Internasional Indonesia, AMMB International Ltd, Indover Bank and
Mitsubishi Buana Bank. (hen)