Mandiri Spends Rp625 million on Surabaya Business District
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Selasa, 9 September 2014 17:32 WIB
TEMPO.CO, Jakarta - Bank Mandiri and Bank Central Asia (BCA) disbursed syndicated loans to finance the property project of PT Pakuwon Jati in Surabaya, East Java. The project—a business district called Tunjungan City—takes Rp625 billion from Bank Mandiri in credits, which is 50 percent of the total project cost.
The syndicated loan agreement was signed in Surabaya on Tuesday, September 9, witnessed by Mandiri's director of corporate banking Fransisca Mok, BCA's corporate director Dhalia M. Ariotedjo, and Pakuwon Jati ultimate owner Alexander Tedja.
Fransisca Mok said the syndicated loan has a term of eight years including a two-year grace period. This business district will comprise of shopping areas, hotels, and apartments.
As of July 2014, Bank Mandiri has disbursed Rp14.98 trillion worth of credits to the property and construction sector. The figure shows a 33.9-percent increase from the same period last year.
