Monday, August 30, 2010

Transgasindo raise US$250 million loan

Hongkong Shanghai Banking Corporation (HSBC) and six other banks have committed to provide US$250 million syndicated loan to PT Transportasi Gas Indonesia (Transgasindo), wholly owned subsidiary of publicly listed PT Perusahaan Gas Indonesia Tbk (PGAS).
The syndicated creditors are The Bank of Tokyo Mitsubishi UFJ Ltd, Jakarta branch, PT Bank Sumitomo Mitsui Indonesia, PT ANZ Panin Bank, dan PT Bank Mizuho Indonesia as mandated lead arrangers.
PT Bank Ekonomi Raharja Tbk dan Bank of China Limited as lead managers. The syndicated loan will be used by Transgasindo to support general purposes financing, including capital expenditure, and debts refinancing.
The unsecured syndicated loan will mature in the next 5 years with quarterly installments and fully bankrolled by onshore creditors, avoiding from 20% witholding tax.

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