United Tractors secures USD140m loan facility
Wednesday, October 19 2005 - 10:43 AM WIB
JSX-listed firm PT. United tractors Tbk. Announced on Wednesday the signing of US$140 million syndicated loan facility in Singapore with a group of nine lenders including BNP Paribas, Overseas Chinese Bank, Standard Chartered and Sumitomo Mitsui Banking Corp.
Proceed from the facility will be used to refinance a $90 million loan and for working capital.
The company said that the amount was $15 million more than originally expected due to over subscription. The facility has three-year maturity with an option to extend for two years.
United Tractors is the country?s leading heavy equipment equipments distributors and the country?s top coal mining contractor through its wholly owned subsidiary PT. Pama Persada Nusantara.(alex)