Sinar Mas Pays US$ 30.8 Million Interest
Bisnis Indonesia, page B2, 2005-08-15
Sinar Mas Group has paid a US$ 30.8 million interest its creditors on 29 July. It was the second payment done since the debt restructure agreement was effective. The payment has to be done every three months. The interest payment is to cover the debts of Sinar Group’s companies, which included PT Indah Kiat, Tjiwi Kimia and Pindo Deli. The payments are done in 4 currencies: US$, euro, yen and rupiah. The total debt payment for Indah Kiat amounted to US$ 18.7 million, US$ 6.8 million for Tjiwi Kimia and US$ 5.3 million for Pindo Deli. The next interest payment will be done in October, while the amount will depend on the value of the four currencies at that time.