JAKARTA (Yosefardi) – Paper producer PT Fajar Surya Wisesa Tbk (FASW), Fajar Paper, has today (Sep 4) signed loan term loan facility commitment amounting US$240 million with 5 banks, to fund expansion of business and to refinance existing long term loan.
That 5 banks are The Hongkong and Shanghai Banking Corporation Limited, Overseas-Chinese Banking Corporation Limited, PT Bank OCBC NISP Tbk, PT Bank UOB Indonesia, and Standard Chartered Bank.
The new loan has tenor of 5 years, with 2 years extension option.
FASW plans to build one paper mill (PM#8) in Surabaya, East Java and the completion is expected for early 2016. The project will cost US$165 million. New facility will add capacity by 350,000 tons per year, to total 1.55 million tons per year. (yohanneso@yosefardi.biz)