Syndication of International Banks Compete for Financing Indomobil
Tuesday, 12 December, 2006 | 13:09 WIB

TEMPO Interactive, Jakarta: Twelve international syndicated banks are competing for disbursing loans to PT Indomobil Finance Indonesia. The syndicated Bank that is owned by Chinatrust Commercial Bank and Bayerische Hypo-und Vereinsbank AG have agreed to disburse funds of US$60 million to Indomobil Finance. “It is one and a half times larger than the initial agreement,” said President Director of Indomobil Finance Wiwie Jurnia at a press conference yesterday (12/11).

According to him, it shows that the confidence of the international banks for the company is increasing. “Observing what Indomobil has achieved gives us no hesitation to support it,” said Director of Chinatrust Hendrianto Tee. From the other side, loans from foreign banks are an attempt for diversifying the financing source for Indomobil. It will be aimed at financing business expansion of the company next year.

WAHYUDIN FAHMI