BNI leads Rp4 trillion credit syndicate for PT Palapa

BNI leads Rp4 trillion credit syndicate for PT Palapa

Dokumen foto kegiatan transaksi keuangan di Bank BNI. (bni.co.id)

Jakarta (ANTARA News) - A five bank syndicate led by state lender PT Bank Negara Indonesia (BNI) has approved a loan of Rp4 trillion for PT Palapa Timur Telematika to finance development of the project of East Package of Palapa Ring which is part of the strategic Indonesian Broad Band Plan of 2014-2019.

Deputy Director of BNI Herry Sidharta said the bank is the mandated lead arranger and bookrunner together with ICBC Indonesia, Bank Papua, Bank Malukumalut, and Bank Sulsebar. The three latter banks are owned by regional administrations.

BNI also serves as facility, collateral and reservoir agent with credit of more than Rp2.6 trillion, Herry said here on Monday after the signing of the syndicated credit.

The target is that development of one by one of strategic infrastructure projects could be accelerated including development of optic fiber network all over Indonesia, Herry said.

Also attending the signing ceremony was Chief Executive of PT Palapa Timur Telematika Leon M Kakisina and directors of other members of the bank syndicate.

Herry said BNI wanted to support acceleration of the development of the infrastructure project including in technology and informatics through national optic fiber development.

The general public would benefit from the availability of broadband access in various areas in the country.

Earlier BNI, the countrys 4th largest bank in assets already lent support the financing of the Central Package of Palapa Ring project.

The project of the East Package of Palapa Ring will cover Indonesias eastern regions including East Nusa Tenggara (NTT), Maluku, Papua and West Papua with a network of 8,400 kilometers in total length. This project is longer than two other part of the Palapa Ring project.

Palapa Ring project consists of West Package with 2,000 kilometers optic fiber cable and Central Package 2,700 kilometer in length.
(Uu.H-ASG/F001)

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