Asia loans: Protelindo gets $400m for Hutch leaseback

12 Nov 2008

Professional Telekomunikasi Indonesia (Protelindo) has lined up a group of six banks to provide funding for its acquisition of a network of telecom towers. Mandated lead arrangers Chinatrust Commercial Bank, CIMB, DBS, OCBC, Royal Bank of Scotland and Standard Chartered are putting together a $400m loan supporting the acquisition of mobile phone towers in Indonesia from a unit of Hong Kong’s Hutchison Telecom.

The six are planning to launch the loan into syndication in January.

One loans banker close to the sale and leaseback deal for HCPT, a 60% subsidiary of Hutchison Telecom, said that the deal is being arranged on a best-efforts basis and that the mandated lead arrangers are ...

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