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Tuesday, June 1, 2010

Sarana Menara pledged its shares in Protelindo for loans facility

Irvin Avriano A.
Bisnis Indonesia

Sarana Menara pledged its shares in Protelindo for loans facility

JAKARTA: PT Sarana Menara Nusantara Tbk, pledged its shares in their subsidiary, PT Profesional Telekomunikasi Indonesia (Protelindo), to obtain a loan facility worth US$375 million and IDR926.9 billion, which equivalent to IDR4.39 trillion.

In the disclosure of Indonesia Stock Exchange (BEI) today, its mentioned the loan obtained from a consortium of at least eight local and foreign banks that the loan will cater for Protelindo.

"The loan was obtained from DBS Bank Ltd, Oversea-Chinese Banking Co Ltd, Standard Chartered Bank, Standard Chartered Bank-Indonesia branch, and the Royal Bank of Scotland NV in Singapore," said Sarana Menara Nusantara President Director Adam Gifari in the disclosure this afternoon.

In addition, he said, loans are also derived from PT Bank Central Asia Tbk, PT Bank DBS Indonesia, PT Bank OCBC NISP Indonesia Tbk, and several other financial institutions. Adam explains the emitter has around 99.99% stakes in Protelindo. However, the disclosure does not explain the number of shares pledged by Sarana Menara.

Stock prices for the coded TOWR shares was strengthened by 2.5% to a level IDR2.050 this afternoon and formed market capitalization for the company to IDR2.09 trio.



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