PGN secures $100m credit from Bank Mandiri
Wednesday, August 29 2007 - 05:37 AM WIB
State gas distributor PT Perusahaan Gas Negara (PGN) said on Wednesday that it had signed an agreement on US$100 million worth of credit with PT Bank Mandiri.
The foreign currency-denominated credit with maturity of 12 months would be used as working capital for transmission and distribution business, the company said in statement.
In addition, the credit could also be used for sub-limit facility of short-term working capital credit (KJP), the issuance of Standby Letter of Credit (SBLC), Bank Guarantee, Letter of Credit (L/C), domestic letter of credit (SKBDN) and foreign exchange line, the company said. (denny)