Bloomberg News

Tower Bersama Said to Seek Loan Under $2 Billion Debt Plan

September 28, 2011

(Adds syndication details in fourth paragraph.)

Sept. 28 (Bloomberg) -- PT Tower Bersama Group is seeking a $200 million, six-year loan as part of a $2 billion debt program, said two people familiar with the matter.

The loan, which has an average life of around 4.5 years, pays a margin of 375 basis points over the London interbank offered rate to lenders domiciled in Indonesia, and 350 basis points to offshore lenders, said one of the people, declining to be identified because details are private.

The loan’s senior bank group includes Australia & New Zealand Banking Group Ltd., Bank of Tokyo-Mitsubishi UFJ Ltd., DBS Group Holdings Ltd., Credit Agricole CIB, Standard Bank Group Ltd., Oversea-Chinese Banking Corp. and United Overseas Bank Ltd., the people said. The loan will be signed next week by the senior lenders.

About 10 percent to 15 percent of the loan may be sold to other banks as part of a limited syndication, one of the people said.

Tower Bersama investor relations manager Edison Bako declined to comment on the financing when contacted on his mobile phone today.

The $200 million facility is the third borrowed by Tower Bersama under the $2 billion debt program, one of the people said. Tower Bersama previously borrowed $300 million and $50 million, that person said.

--Editor: Katrina Nicholas

To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net


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