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BSD to finalize Rp 4t loan for Serpong-Balaraja toll road
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A landmark of BSD city located in Tangerang is seen in the picture above. (Antara/Yudhi Mahatma)
W
inning the Serpong-Balaraja toll road project in March, publicly listed company Bumi Serpong Damai (BSD) now seeks to finalize a loan syndicate deal to finance the Rp 5.18 trillion (US$389.62 million) project.
Bumi Serpong president director Fransiskus Xaverius Ridwan Darmali said negotiations were ongoing with numerous banks, including leading lenders Bank Mandiri and Bank Rakyat Indonesia (BRI). He confirmed that the amount of loans committed was around Rp 4.2 trillion.
"Yes, it will be around that number. We have been talking with one bank, but probably it will form a loan syndicate with other banks," he said on Friday in Jakarta.
Currently, Bumi Serpong has outstanding debt of Rp 2.05 trillion from Bank Mandiri and Rp 151 billion from BRI.
The property company with the largest land bank in Indonesia is in a consortium with Transindo Karya Investama, Sinar Usaha Mahitala and Astra Group's PT Astratel Nusantara for building the 30 kilometer toll road.
Bumi Serpong, part of Sinarmas Group's real estate empire, owns a 50 percent share of the toll road project after winning it over a consortium led by Citra Marga Nusaphala Persada, a publicly listed company controlled by MNC group. (ags)
