November 14, 2018 / 7:50 AM / a month ago

Indonesia's PLN secures 4.5 trln rupiah loan from domestic banks

JAKARTA, Nov 14 (Reuters) -

* Indonesia’s state-owned electricity utility Perusahaan Listrik Negara (PLN) has secured a 4.5 trillion rupiah ($304.88 million) syndicated loan from several local banks, the company said in a statement on Wednesday

* The funds will be used for power transmission and substation projects on the island of Java, as part of a 35 gigawatt power development programme, it said

* The loan was provided by PT Bank Rakyat Indonesia acting as the syndication agent, along with PT Bank Mandiri , PT Bank Negara Indonesia and PT Bank Central Asia

* PLN last week said it had also secured a $1.62 billion syndicated loan facility from international banks ($1 = 14,760 rupiah) (Reporting by Wilda Asmarini Writing by Fergus Jensen)

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