Oct 22, 2010

Bumitama Gunajaya seals US$135 mio

Consortia of 4 banks, DBS Indonesia, HSBC Bank Ekonomi Raharja, Bank Permata, and Bank Rabobank International pose to provide US$135 million loan facility to Bumitama Gunajaya Group.
Rajeev Babel, Head of Global Banking HSBC Indonesia, said initially Bumitama Gunajaya proposed US$110 million loan.
But, the demand from syndicated members were so strong. Hence, Bumitama Gunajaya took more 5 year loans. HSBC Indonesia and DBS Indonesia are lead arranger for the syndicated loan.
Bumitama Gunajaya is subsidiary of Harita Jayaraya, group of companies moving in mining, forestry, palm oil businesses.
In May 2010, Bumitama Gunajaya secured US$110 million loan facility to acquire plantation. The company also sealed US$80 million loan from Bank Mandiri. 
Disclosure: No position at the stock mentioned above.  

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