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Tower Bersama Loan Said to Attract Cathay United Bank Pledge

PT Tower Bersama Infrastructure’s $325 million loan has attracted a $5 million commitment from Cathay United Bank Co., according to a person familiar with the matter.

The borrower is awaiting one final response from a potential lender before completing general syndication, the person said, asking not to be identified because the details are private.

The Jakarta-based provider of telecommunications infrastructure received a $40 million commitment from Industrial & Commercial Bank of China Ltd. in general syndication, another person familiar with the matter said on May 14. The loan has also attracted pledges of $20 million each from PT Bank Danamon Indonesia and Sumitomo Mitsui Banking Corp., and $4 million from Bank of China Ltd., the person said.

Gavin Caudle, an adviser to the board of directors and a founder of the company, didn’t immediately reply to an e-mail and telephone message today seeking comment on the financing.

Australia & New Zealand Banking Group Ltd., Bank of Tokyo-Mitsubishi UFJ Ltd., DBS Bank Ltd., Oversea-Chinese Banking Corp. and United Overseas Bank Ltd. were hired to help arrange the senior debt facility, according to a March 21 e-mailed statement from OCBC. Proceeds will be used to help fund Tower Bersama’s purchase of 2,500 mobile phone towers from PT Indosat and for other capital expenditure requirements, according to the statement.

Banks that joined the loan as arrangers prior to general syndication include PT Bank Central Asia, PT Bank Negara Indonesia Persero, CIMB Group Holdings Bhd., Credit Agricole SA, HSBC Holdings Plc and Qatar National Bank SAQ, Caudle said on May 11 in response to e-mailed questions.

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