More News
LENDING & CREDIT | Cesar Tordesillas, Indonesia
view(s)

Bank Negara Indonesia to facilitate $433-M syndicated loan

Rp 4.17 trillion worth of syndicated loans.

This will be availed by Krakatau Steel with Bank Negara Indonesia acting as the syndicated loan agent.

In this role, BNI represents the interests of all the syndicate participants until the loans mature.

The total loans of Rp 4.17 trillion or $433 million consist of Rp 2.27 trillion worth of commercial loans from Indonesia banks,namely Bank Negara Indonesia, Bank Mandiri and Bank Rakyat; $200 million from three Chinese banks — Industrial and Commercial Bank of China, HSBC and China Development Bank.

Krakatau, the biggest steel maker in Indonesia, will use the Rp 4.17 trillion to help finance its blast furnace plant in Cilegon, Banten, BNI management said.

The plant will have the capacity to process 1.2 million tons of hot metal and slabs a year and is scheduled to finish construction by the fourth quarter of 2014.

For more

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.