Indika gets US$200 million loan
Thursday, May 24 2012 - 03:41 AM WIB
IDX listed PT Indika Energy Tbk recently stated it has on May 21 signed loan agreements with Citibank N.A Jakarta Branch, Standard Chartered Bank Jakarta Branch and UBS AG Singapore branch for US$50 million, US$75 million and another US$75 million worth of loan, respectively.
The signed Credit agreement with Citibank is divided into two tranches, with Tranche A amounting to US$28 million for 18 months and Tranche B reaching US$22 million for a year, with 3.5 percent interest above LIBOR per annum for Tranche A and 3 percent above LIBOR for Tranche B.
The Short Term Loan Facility Agreement with Standard Chartered Bank, amounts to US$75 million for one year with 3.50 percent above LIBOR interest rate per year.
With UBS AG acting as arranger, agent and original lender, the company also gets another US$75 million worth of loan from the bank, also for 18 months, with 3.35 percent interest rate above LIBOR per year. Overall this allows Indika to acquire a total of US$200 million worth of loan from the three banks.
The company however didn't provide details on the planned use allocation of the fund.
Editing by Er Audy Zandri