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Indonesia



PT Adaro and Coaltrade International Services’ $750 million dual tranche

debt package was signed last Thursday (March 6) via mandated lead

arrangers Bank of Tokyo-Mitsubishi UFJ, DBS Bank, Standard Chartered

Bank, Sumitomo Mitsui Banking Corp and United Overseas Bank. DBS Bank,

Standard Chartered Bank and Sumitomo Mitsui Banking Corp were the

bookrunners. The facility was funded in early December.



The credit is split between a $650 million five year amortising term

loan, with an average life of 3.54 years and a $100 million three year

revolver. The deal is priced at 130bp over Libor for the onshore portion

and 120bp for the offshore tranche.



Final allocations saw the mandated arrangers contributing $110.8 million

apiece with the exception of United Overseas Bank which held $72.1

million. Bank Mandiri joined in as an equal-status arranger taking $67.2

million.



Coming in as lead arrangers were ABN ABRO and ANZ both giving $50

million each. Rounding off the syndicate were arrangers NordLB providing

$30 million while Bangkok Bank took $20 million. Commerzbank and Bank

Lippo held $10 million and $7.5 million respectively.



Proceeds are to refinance an existing $200 million loan signed in March

2007 and a $400 million high-yield bond.


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