PT Astra International, an international trading group in Indonesia, has signed a US$386mn-equivalent dual tranche revolving credit facility via seven banks: BNP Paribas, Citi (Indonesia), HSBC, Mizuho Corporate Bank, PT Bank Madiri, Standard Chartered and SMBC. The deal was arranged on a club basis.
The deal breaks down into a US$280mn tranche, paying a margin of 100 basis points above Sibor, and a rupiah local currency tranche of Rp1tn which pays a margin of 100bp over SBI (Sertifikat Bank Indonesia).
It carries a tenor of three years, with an extension option of a further two years.
The funds are being used to refinance existing debt, and financing general investment needs.
Astra is a leading company in Indonesia with key interests in the automotive sector, financial services, heavy equipment, mining, agribusiness, information technology and infrastructure.
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