Kertas Basuki Granted A Loan Of US$60 Million

Jakarta, Sept 3 (Antara) - Paper producer and distributor PT Kertas Basuki Rachmat Indonesia Tbk (KBRI) through a subsidiary received a loan commitment of US$60 million to buy machines. President Director of the publicly traded company Gani Bustan said the loan was granted by a consortium of three Indonesian banks including Bank Negara indonesia Tbk (BNI), Indonesia Eximbank, and Bank QNB Kesawan Tbk. KBRI is given an option to raise the loan to US$70 million, Gani said, adding the loan consist of US$45 million in Tranche A , US$15 million in Tranche B which is a revolving credit, and US$10 million an option to increase. "Tranche A loan would be for five years and Tranche B loan is for three years that could be extended for two years," Gani said He said the Tranche A loan would be used as capital expenditure to buy machines and Tranche B loan fund would be used as working capital. He said the shares of the company which is owned by Suisse Charter Investment Ltd., Wyoming International Ltd., and Quest Corporation are provided as collateral of the loan . In addition, subsidiary Kertas Basuki Rahmat (KBR) and other assets such as lands and buildings are included as collateral.