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Pertamina signs and increases Islamic finance first
23 December 2004
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finance
trade
imports
international
ECA
Pertamina, Indonesia's state oil and gas company, has signed
Indonesia's first international Islamic finance facility through
HSBC Amanah.
The facility, arranged by the Islamic finance subsidiary of HSBC
(HSBC Amanah), finances crude oil imports from the Middle East to
the world's most populous Islamic nation. Signed at the end of
November for $292 million, the trade financing package was set to
be increased by a further $30 million in the middle of December. It
is the largest globally syndicated facility ? either Islamic or
conventional ? arranged for an Indonesian company since the 1998
crisis.
HSBC acted as mandated lead arranger. A number of institutions,
both Islamic and conventional, joined as lead arrangers, they are:
Kuwait Finance House, Dubai...
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