Indonesia Taps Chase, Mitsubishi
Chase Manhattan Corp. and the Mitsubishi Bank Limited are coagents arranging a $750 million loan that Indonesia's state oil company will use to expand a liquefied natural gas facility.
As coagents, Chase and Mitsubishi will each lend $52.2 million. Dai-Ichi Kangyo Bank, Fuji Bank, Mitsui Taiyo Kobe Bank, Sanwa Bank, and Union Bank of Switzerland will each lend $50.5 million.
Purchase Agreement Signed
Five Japanese utilities have signed a 20-year gas purchase agreement, ample cushion for the bank loans that mature in 13 years and one month.
The interest rate will be 125 basis points over the London interbank offered rate, but the borrower will also pay a 0.25% fee on the portion of the loan that is not drawn down.