PT Keramika Indonesia Assosiasi Tbk, ceramic producer that is partly owned by Thai Siam Cement, has secured US$61.5 million loan facility from United Overseas Bank Ltd, Singapore.
The facility will be used by Keramika to refinance loan to PT Bank Panin Tbk and settle convertible bond on June 3 2011, an official statement submitted to Indonesia Stock Exchange (IDX) today said.
Two subsidiaries of Keramika Indonesia, dubbed PT KIA Serpih Mas dan PT KIA Keramik Mas, has sealed revolving loan facility of US$22 million and US$5.65 million respectively from UOB Singapore as well. The facility will be used to refinance debt to Bank Panin. In total, Keramika and its subsidiaries have obtained US$89.15 million facilities.
Disclosure: No position at the stock mentioned above.
Print This Article