Nov 21, 2011

Astra Agro seeks US$100 mio loan

Palm oil producer PT Astra Agro Lestari Tbk (AALI) is seeking a US$100 million loan facility to replace existing loan that will mature next year.
Director Santosa said the company has a US$50 million loan facility from a consortium of five banks led by Bank of Tokyo Mitsubishi UFJ. The consortium provided the facility to Astra Agro in 2009. However, the facility will end in June 2012, making the company to find another US$100 million facility.
"We have a 3 year maturity and will mature in 2012. Now, we have started in talks with several banks," he said as quoted by Bisnis Indonesia today.
The company will spend Rp1.7 trillion for capital expenditure. Astra Agro will use the capex for the construction of new production facilities, land acquisition, and replanting.

Disclosure: No position at the stock mentioned above.

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