Sarulla Consortium Hires Banks for $410 Million Geothermal Loan
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A consortium formed to build the Sarulla geothermal power project in Indonesia hired six banks to help arrange a $410 million loan, according to a person familiar with the matter.
Bank of Tokyo-Mitsubishi UFJ Ltd., ING Groep NV, Mizuho Corporate Bank Ltd., National Australia Bank Ltd., Societe Generale SA and Sumitomo Mitsui Banking Corp. will market the 20-year project finance facility to other lenders, the person said, asking not to be identified as details are private. The loan will pay a margin of around 200 basis points more than the London interbank offered rate, the person said.