PT Trans Media Corpora, holding company of Trans TV and Trans 7, has entered into US$450 million loan agreement with several banks.
ANZ Panin Bank, BNP Paribas, JP Morgan Securities (Asia Pacific) Ltd, Citibank NA Jakarta Branch, Citigroup Global Markets Singapore Ple Ltd, Credit Suisse AG Singapore Branch, The Hongkong and Shanghai Banking Corporation Ltd Jakarta Branch, HSBC Securities Indonesia, ING Bank N.V., The Royal Bank of Scotland N.V. and Standard Chartared Bank is acting as mandated lead arrangers for the facilities.
Trans Media intends to refinance US$350 million of existing debt to Citi, Standard Chartared Bank, Credit Suisse, and ING Bank which had been used to acquire 40% shareholding in Carrefour Indonesia last year.
About US$100 million will be used by Trans Media to support capital expenditure and general purposes.
The company also plans to establish a new complex of integrated television studio at 60 hectares of land area.
"In the future, television industry will enroll the digital market. In a bid to tap the new market, we prepare with the establishment of television studio," said Trans Media CEO and Chairman Chairul Tanjung.
Disclosure: No position at the stock mentioned above.
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