More money for Indonesian telcos

DBS and Bank Mandiri lead the first Indonesian telecom loan since the crisis.

DBS and Bank Mandiri yesterday Tuesday closed the syndication of a $215 million loan to PT Mitra Global Telekomunikasi MGTI. The banks are joint mandated co-ordinating arrangers of the loan, which has been syndicated out to six other banks ABN AMRO, Bank Danamon, Bank DBS Indonesia, Bank Internasional Indonesia, ING Bank and Bank Rabobank International Indonesia.

The syndicated facility has a tenor of five years and pays an interest rate of Libor plus 6%. It is an amortising loan with a three month grace period. The facility refinances a bridge loan that DBS extended to MGTI when Alberta Telecommunication acquired it. That deal also closed today.

Alberta is an...

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