DBS Indonesia and HSBC together with its syndication banks have completed the final process of Syndicated Term Loan Facility for Bumitama Gunajaya Agro (BGA) Group. Due to the oversubscribed participation, the final loan amount provided for the facility has been upsized to US$135million from the original amount of US$110million. Acted as mandated lead arrangers for the facility are DBS Indonesia and HSBC Indonesia.
The signing ceremony was conducted yesterday and attended by Lim Gunawan Hariyanto, President Director of BGA Group, Rajeev Babel, Head of Global Banking HSBC Indonesia, Hendra Gunawan, President Director of DBS Indonesia, as well as representatives from lead arranger banks namely Bank Ekonomi Raharja, Bank Permata, and Bank Rabobank International Indonesia.
Being subsidiary of Harita Jayaraya, a resourced-based group company which main businesses include mining, logging and palm oil plantation, BGA is focusing on palm oil plantation business. The initial USD110 million syndicated loan signed on May 2010, is used by the company to finance the expansion of palm oil plantation whilst the additional upsized fund will be used for acquiring palm oil plantation companies to further enlarge company’s CPO plantation estate.
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