Indonesian cement company PT Holcim Indonesia Tbk (SMCB) and banking syndication including Tokyo Mitsubishi as the coordinator , PT Bank Central Asia Tbk (BCA), PT CIMB Niaga Tbk, DBS and Sumitomo Mitsui signed a loan facility deal of Rp 1 trillion (US$104.4 million).
The loan is aimed at propping up the acquisition over a Malaysia-based cement factory. In addition, the loan will be utilized for debt restructuring.
Holcim Indonesia Director Jannus O Hutapea said in a written statement on Tuesday, Nov 3, the facility is in line with the company’s objective of maintaining solid balance sheet.
The loan facility will provide maximum flexibility in daily working capital management.