Monday, August 1, 2011

PT Sarana Tower Nusantara Tbk - Receive USD 482.26 million Loan

PT Sarana Tower Nusantara Tbk through subsidiary, PT Professional Telecommunications (Protelindo) won commitments loan facility of U.S. $ 482.26 million or around Rp 4, 07 billion from a syndicate of 14 banks. The facility is provided with an initial target of U.S. $ 300 million but later increased to U.S. $ 482.26 million.

Company Secretary Haryo Dewanto Means Tower said the facility is a falling bullet in term of loan due within five years.

"The Company has used the amount borrowed under the facility on a full repayment of the subordinated facility with high interest rates of U.S. $ 103 million, repayment of some amount of approximately U.S. $ 337.81 million of amortization of loan facility in May 2010 amounted to U.S. $ 478.4 million, "he explained in the disclosure of information on the IDX site

In addition, he said, the company also has used the amount borrowed for the acquisition and construction of the tower.

The 14 banks that provide syndicated facilities are DBS Bank Ltd, Oversea-Chinese Banking Corporation Limited, The Royal Bank of Scotland, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, ING Bank NV Singapore Branch.

Furthermore, PT Bank Central Asia Tbk, PT Bank Negara Indonesia Tbk, Bank of China Ltd, PT Bank Panin Tbk, Singapore Branch CIMB Bank Berhad, Bank Chinatrust Indonesia, PT Bank Commonwealth, and PT Bank ICBC Indonesia.

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