Jul 6, 2011

Panorama seals Rp60 billion loan

Tour travel provider and transportation company PT Panorama Transportasi Tbk has secured Rp60.30 billion loan facility from one of Indonesia's largest lenders PT Bank Mandiri Tbk (BMRI).
The facility will be used by Panorama to buy 100 units of Hyundai Starex Mover which will be transformed into premium taxi fleets and 20 units of Mercedez Benz OH 1526 to support tour business, said an official statement last night.
To obtain the 60 month-facility, Panorama has pledged 100 units of Hyundai Starex Mover and 20 units of Bus Mercedez Benz OH 1526. Panorama could drawdown the loan within 12 months after the loan agreement has been signed. 

Disclosure: No position at the stock mentioned above.  

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