Bank Mandiri may provide loans for KPC
Thursday, September 2 2004 - 12:54 AM WIB
The giant state-owned Bank Mandiri has been approached by international investment bank CSFB to provide loans for coal mining giant PT Kaltim Prima Coal (KPC), the Bisnis Indonesia daily reported on Thursday.
"We have been approached to join the syndication of banks to provide loans for KPC," said Bank Mandiri director Sholeh Tasripan. He added that the bank has yet to decide whether to join the lending consortium.
CSFB together with JP Morgan have been appointed by the East Kalimantan-based KPC to arrange around $385 million in bank loans, after it cancelled an initial plan to raise the money from the bond market due to rising yields trend in Asia.
According to one source, Bank Mandiri has been requested to provide up to $100 million in loan.(*)