PT Kirana Megatara, subsidiary of Triputra Group, owned by Indonesian businessman Theodore Permadi Rachmat, has secured US$600 million loan facilities from 12 banks with option to raise another US$200 million.
About 3-year US$500 million of the facilities will be used as working capital and the 5-year US$100 million will be allocated for investment.
Bank CIMB, HSBC Indonesia, Bank Permata, and Standard Chartared Bank lead the syndicated with members consisting of Eximbank Indonesia, ICBC Indonesia, Rabobank Indonesia, OCBC Singaporem OCBC NISP, Bank of Tokyo UFJ, and KOrea Development Bank and Bank of China.
Toddy Mizaabianto Sugoto, Kirana Megatara Commissioner, said the facilities will be used as working capital to buy rubber raw material and expand 14 production facilities.
Kirana is focusing on rubber as part of business group of Triputra Group which manages four main businesses such as agribusiness, manufacture, mining, and trading. Kirana manages 14 rubber facilities in Sumatra and Kalimantan.
Disclosure: No position at the stock mentioned above.
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