Feb 18, 2011

First Media secures loan from ICBC

Pay TV and internet provider PT First Media Tbk has secured a maximum loan facility of 84.8 billion from PT Bank ICBC Indonesia.
In an official statement filed to Indonesia Stock Exchange (IDX) today, Hengkie Liwanto, First Media President Director, said the company has entered into loan agreement with Bank ICBC on February 16.
ICBC Bank will provide a maximum of Rp54.80 billion installment loan and Rp30 billion of on demand loan. However, First Media hasn't declared the loan usage. 

Disclosure: No position at the stock mentioned above. 

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