TGI signs $250m syndication loan with national banks
Tuesday, August 31 2010 - 10:14 AM WIB
PT Transportasi Gas Indonesia (TGI), which is controlled by state owned gas distributor PT Perusahaan Gas Negara (PGN), has signed US$250 million of loan syndication facility with national banks.
HSBC is the lead arranger. The loan has a tenor of five years.
PGN said in a statement on Tuesday that the facility is for payment of TGI?s debt and other corporate expanses.
In June, PGN?s finance director Reza Pahlevi said that TGI wanted to borrow $250 million to fund capital expenditure.
TGI is an international joint venture owned 59.87 by PGN, 40 percent by Transasia Pipeline Company Pvt. Ltd and 0.13 percent by PGN?s employee fund Yayasan Kesejahteraan Pegawai PGN.
It operates 1,006 km of onshore and offshore gas pipelines from Grissik to Duri and Grissik to Singapore via Batam. (godang/bernard)