Astra Sedaya got US$100 million loan

PT Astra Sedaya Finance attained US$100 million loans from overseas syndication loans of Bank of Tokyo-Mitsubishi UFJ Ltd (BTMU Tokyo), Mizuho Bank, SMBC, and China Trust Bank.
The company also seeks IDR1 trillion bonds issuance which is scheduled in quarter II/2009.
Director of Astra Sedaya Hugeng Gozali said the loan interest rate refers to the London inter bank offered rate (Libor) plus 2 percent.
"The loan is effective from next week. Each bank disbursed some US$25 million," he said to me last week.
He said the interest rate is quite low-priced. But, the company is facing the mounting swap rate situation.
Last year, the company got US$60 million loan from the BNP Paribas.
Hugeng said the company is also negotiating the interest rate to disburse IDR1 trillion loan from PT Bank Negara Indonesia Tbk (BNI). "There has been BNI loan commitment but the interest rate negotiation is underway. This year we will got the loan disbursement."
This year, Astra Sedaya targets the financing credit expansion could stand at IDR12.5 trillion as from IDR9.8 trillion last year loan expansion.
Astra Sedaya is one of the automotive multifinance under the control of PT General Electric Services with shareholding portion of 47 percent. Besides, PT Astra Internasional Tbk has 44.28 percent share ownership and PT Sedaya Investama sebesar 8.72 percent.