JAKARTA: PT Federal International Finance (FIF), a financing company for Hondas motorcycle, secured loan facility from several banks worth US$250 million or more than IDR2.1 trillion, which facilitated by Mizuho Corporate Bank Ltd in Singapore.FIF will use such syndicated loan as working capital for motorcycle financing in the future, FIFs President Director Suhartono said in its press release, yesterday.The company secured such loan facility from several local and foreign banks. Those local banks were PT ANZ Panin Bank, The Bank of Tokyo-Mitsubishi UFJ, PT Bank Mandiri Tbk, PT Bank Chinatrust Indonesia, and JPMorgan Chase Bank NA Jakarta.Meanwhile, the foreign banks were Mizuho Corporate Bank Ltd Singapore, Oversea-Chinese Banking Corporation Limited, Sumitomo Mitsui Banking Corporation Singapore, United Overseas Bank Limited, Chinatrust Commercial Bank Co Ltd, and The Bank of East Asia Limited Singapore.Mizuho Corporate Bank Ltd Singapore acted as facility agent while PT Bank Mizuho Indonesia as security agent with a term loan facility for 3 years.FIFs President Director Suhartono attended the signing of facility agreement held in Singapore on July 5, 2011, along with Finance Director David Iskandar, Commissioner President Gunawan Geniusahardja, and Head of Treasury & Funding Division Djap Tet Fa.Meanwhile, the signing of security document was held at FIF Tower on July 6, 2011.David Iskandar added the demand of vehicles particularly motorcycle is raising along with the increased people's purchasing power. FIF is expected to provide competitive rates to the public after grabbing the syndicated fund.FIF recorded IDR9.1 trillion financing during the first half of 2011 or 20% higher from same period a year earlier. (msw/t06)

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