PT Bank Negara Indonesia Tbk (BNI) is processing a syndicated credit of Rp 3 trillion (US$3 billion) for the state owned telecommunications company PT Telkom.
The state bank has been named as the lead arranger for the syndicated loan that will involve Bank Rakyat Indonesia (BRI) and a number of other local banks, BNI President Gatot M Suwondo said on Monday, 5th Januari 2009.
The country's largest telecommunications company will use the loan fund to help finance its capital expenditures, which are set at Rp22 trillion for this year, Gatot told the newspaper Investor Daily.
BNI corporate director Krishna Suparto said BNI will contribute Rp2 trillion to the syndicated credit.
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