PT Charoen Pokphand Indonesia Tbk has sealed US$250 million loan from syndication of 13 banks, used for a debt refinancing, funding its capital expenditure and working capital.
The signing of such memorandum of loan agreement was held yesterday. Those 13 banks include Citi, PT Bank Central Asia Tbk, DBS Bank Ltd/PT Bank DBS Indonesia, PT Bank Mandiri Tbk, and Singapore’s branch, Sumitomo Mitsui Banking Corporation.
Other banks are PT Bank ICBC Indonesia, PT Bank Mizuho Indonesia, PT ANZ Panin Bank, PT Bank Rabobank International Indonesia, Singapore’s branch, PT Bank Commonwealth Chang Hwa Commercial Bank Ltd, Offshore Banking of Mega International Commercial Bank Co Ltd and Labuan’s branch, Cathay United Bank.
The company plans to fund working capital and business expansion up to 2013. The facility is consisting of two loan facilities with US$100 million amortization in both rupiah and US dollar. The facility will due in 5 years. The revolving US$150 million credit facility in both currencies will due in 3 years and has 2 years renewal option. Around US$50 million is channeled for syndication refinancing in 2007 and US$200 million for working capital.
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