SAN Accepts Loan of Rp.400 Billion
Bisnis Indonesia, page B4, 2006-09-22
PT Surya Artha Nusantara (SAN) Finance has accepted a loan from PT Bank Nasional Indonesia Tbk and PT Bank International Indonesia Tbk each worth Rp.300 billion and Rp.100 billion. Up to 2006, the company has aimed at financing the leasing of heavy machinery up to Rp.500 billion. Before obtaining credit from the two banks, SAN Finance also received credit from Bank Finconesia as much as Rp.55 billion and Sumitomo Mitsui Banking Corporation (SMBC) as much as Rp.5 million. SAN Finance has a financing proportion of 70 percent for onshore and 30 percent for offshore. The company plans to issue bonds in 2008. PT Sedaya Multhi Artha, subsidiary of PT Astra International Tbk, owns 60 percent of SAN Finance’s shares. Meanwhile, the rest is owned by Marubeni Corporation who owned only 4.91 percent before.