Oct 5, 2010

Danareksa secures Rp250 bio loans

Four Indonesia’s lenders happened to provide Rp250 billion loan to state-owned PT Danareksa (Persero) during May and June 2010.
In Danareksa’s financial statement in the first half of 2010 submitted to Indonesia Stock Exchange, it was reported that PT Bank Mandiri Tbk allocated Rp100 billion on 31 May 2010, while PT CIMB Niaga Tbk (BNGA) secured IDR50 billion loan on 28 June.
PT Bank DBS Indonesia and PT Bank Permata Tbk (BNLI) gave Rp50 billion loan on 14 June and Rp50 billion on 30 June 2010 respectively.
Danareksa utilized the bank loans for its capital working with around 8.40%-9.50% interest rate. The promissory notes issued by Danareksa guaranteed the entire loans as per 30 June 2010. Danareksa has Rp1.2 trillion of loan facility as per June 2010.

Disclosure: No position at the stock mentioned above.

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