PGN obtains $650m loan facility
Friday, August 29 2014 - 02:12 AM WIB
IDX-listed gas distribution company PT Perusahaan Gas Negara (PGN) Tbk signed on Thursday a syndicated loan agreement worth up to US$650 million with foreign and domestic banks.
PGN said in a statement that the loan would be used to help finance construction of gas infrastructure facilities and investment in the upstream sector to secure new gas supplies.
The statement said that the five-year lending facility was signed by several banks among others Australia and New Zealand Banking Group Limited, Bank of Tokyo-Mitsubishi UFJ, Ltd, Citigroup Global Markets Singapore Pte.Ltd., Hongkong and Shanghai Banking Corporation Limited, Sumitomo Mitsui Banking Corporation. The bulk of the lending facility worth about $590 million will come from domestic banks, with the remainder from banks overseas, PGN said.
Editing by Reiner Simanjuntak