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)