JAKARTA (Yosefardi) – State cement maker PT Semen Indonesia Tbk (SMGR) has secured loan of US$100 million, equivalent Rp1.1 trillion, from Bank Mandiri and Standard Chartered Bank.
The loan will be used to refinance loan of its unit Thang Long Cement in Vietnam which carries interest of more than 18% per year.
The new loan from Bank Mandiri and Standard Chartered Bank will carry interest of 9-10% per year and have tenor of 5-10 years.
Semen Indonesia sold 864,828 tons of cement in January-September 2013 period, declined 7.02% from 930,143 tons in the same period of last year.
Its cement production also fell 5.25% to 880,023 tons in the period, compared to 928,841 tons in January-September 2012 period.