Thursday, December 2, 2010

Astra International private placement IDR1.02 trilion

A foreign fund is initiating to hold a private placement on auto maker, PT Astra International Tbk shares with a target of IDR1.02 trillion proceed.
Macquarie Securities is now working to open a book building to gather demand from investors. The seller intends to dispose 20 million shares or 0.5% holding in Astra International with a maximum discount of 5% from the closing price today.
Astra International shares today advanced 3.05% to IDR54,050 per share. Regarding to the discount, the seller is now offering the shares at the lowest level of IDR51,350 per share.
Astra International also secured US$200 million and IDR1.5 trillion revolving facility agreement for generak purposes. The company has signed the 36 month loan agreement with 22 banks on November, 29 in Singapore.
The lenders are Overseas-Chinese Banking Corporation Limited, PT Bank OCBC NISP Tbk, PT Bank Mandiri Tbk, PT Bank Mandiri Tbk, Singapore branch, Citibank N.A. Jakarta, DBS bank Ltd.PT bank DBS Indonesia, United Overseas Bank Limited, PT bank UOB Buana, PT Bank of Tokyo-Mitsubishi UFJ Ltd, jakarta branch, PT ANZ Panin Bank, Mizuho Corporate Bank Ltd, Singapore branch, and PT Bank Mizuho Indonesia also join the syndication.
Sumitomo Mitsui Banking Corporation, PT Bank Sumitomo Mitsui Indonesia, PT Bank Central Asia Tbk, HSBC Jakarta, BNP Paribas, Singapore, PT Bank Danamon Indonesia Tbk, PT Bank Rabobank International Indonesia, Standard Chartered Bank, Singapore, and Natixis Singapore involve to provide loan facility.

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