JAKARTA (Yosefardi) – Tire manufacturer PT Multistrada Arah Sarana Tbk (MASA) bagged loan of US$170 million from PT Bank OCBC NISP Tbk.
The loan with tenor of 8 years and interest (LIBOR) of 4.25% will be used to refinance outstanding syndicated loan of US$110 million scheduled to mature in 2016-2017.
MASA produced 3.7 million car tires in first half of this year, grew by 6% compared to the same period of 2012. It produced 2 million tires for motorcycle, jumped 21%. MASA’s production capacity reaches 10 million tires for car per year and 6 million tires for motorcycle. Some 70% of total production is for export market.