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Wednesday, June 29, 2011

SAN Finance pocketed loan facility IDR225 bio

29/6/2011
Irvin Avriano A.
Bisnis Indonesia

SAN Finance pocketed loan facility IDR225 bio

JAKARTA: PT Surya Artha Nusantara Finance (SAN Finance), an Astra Group heavy equipment finance company, pocketed new loan facility worth IDR225 billion from PT Bank DKI, the Jakarta rural development bank.

"The type is a working capital loan, the tenures is 3 years," said SAN Finance Accounting and Finance Division Head Naga Sujady to Bisnis early this week.

He said the credit facility will support the company's financing target IDR3.8 trio this year. To fulfill the rest of the target, the company will use the majority needs from the other bank loan, which now the facility worth IDR600 bio—800 bio.

For the funding needs, the multi-financing company will depend on the II/2011 bond issuance which already issued early this year worth IDR600 bio and from their equity that will provide 10%--20% from the total target.

PT Astra International Tbk own SAN Finance's through PT Sedaya Multi Investama 60%, Marubeni Corp Japan 35%, and PT Marubeni Indonesia 5%.

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