JAKARTA: PT Bank Mandiri Tbk contributes US$200 million to a credit syndication totaling US$600 million for PT Newmont Nusa Tenggara.The bank runs as original mandated lead arranger and shares 30% of the total financing, Vice President Riswinandi stated.Besides Bank Mandiri, Sumitomo Mitsui Banking Corporation and BNP Paribas Corporate and Investment Banking will also serve as original mandated lead arrangers and contribute US$125 million and US$75 million each.The remaining US$200 million will be divided based on to the absorption by the 13 participating banks.The 13 banks are Credit Agricole and Investment Bank, Singapura Branch, ING Bank NV Singapore Branch, PT Bank Sumitomo Mitsui Indonesia, Commonwealth Bank of Australia and Caterpillar Financial Australia Limited.Next, PT Bank BNP Paribas Indonesia, PT Bank Negara Indonesia Tbk, Societe Generale Asia Ltd, Natixis Singapore Branch, Goldman Sachs Lending Partners LLC dan PT Bank Commonwealth, Aozora Bank Ltd and UBS AG, Singapore Branch.Related to the loan interest rate, Riswinandi refused to reveal further details but claimed syndicated loan to employ a special interest with reference to the London Interbank Offered Rate (LIBOR).Newmont Nusa Tenggara President Director Martiono Hadianto stated this syndicated loan will be guaranteed with Tambang Batu Hijau's asset in East Nusa Tenggara, which receives the loan syndication.The facility will be used to complete sixth-phase stripping of Tambang Batu Hijau. (T05/NOM)
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