Adaro shuns syndication, opts for 12-member club

25 Apr 2013

Indonesian coal company Adaro Energy has mandated 12 banks to arrange its $380m seven year loan, which is now going to close as a club rather than go into syndication.

Adaro has picked Australia and New Zealand Bank, Bank of Tokyo-Mitsubishi UFJ, Chinatrust Commercial Bank, CIMB, Citi, DBS, HSBC, Mizuho Bank, Oversea-Chinese Banking Corp, Standard Chartered, Sumitomo Mitsui Banking Corp and United Overseas Bank to finance its loan.

The lenders are now considering closing the deal as a ...

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