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Unique structure for Indonesian steel
Coordinating MLA: HSBC
MLAs: CDB, ICBC, Bank Mandiri, Bank Negara Indonesia, Bank Rakyat Indonesia
Borrower: PT Krakatau Steel
Amount: $450 million
Tenor: 3 + 8 years (Sinosure facility), 3 + 6 years (commercial facility)
ECA: Sinosure
Lawyers: Norton Rose; Makarim & Taira S
Exporters: MCC CERI and MCC ACRE (both China)
Signed: August 2012
This second Deal of the Year of 2012 involving Indonesia's PT Krakatau Steel (PTKS) is a transaction that was brought together by coordinating mandated lead arranger HSBC which provided a bespoke solution for the steel company.
The overall $450 million financing is for a new blast furnace for PTKS, with the financing being split...