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COPYRIGHT 2007 Asia Pulse Pty Ltd
An executive briefing on banking for June 21, 2007, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.
PT CHAROEN POKPHAND SECURES US$125 MLN SYNDICATED LOAN
JAKARTA - Publicly-listed animal feed maker PT Charoen Pokphand Indonesia Tbk. (JSX:CPIN) on Thursday secured a syndicated loan of US$125 million from 11 banks.
"Fifty per cent of the loan will be used to refinance higher-yielding debts, and the rest to expand business and strengthen working capital," CPIN director Thomas Effendy said after signing a loan agreement with the 11 banks.
S. KOREA SELLS 5 PCT STAKE IN WOORI FINANCIAL HOLDINGS
SEOUL - South Korea's state-run deposit insurer said Thursday that it has sold a 5 per cent stake in Woori Financial Holdings Co., the country's leading financial service group, through a block sale worth 917 billion won (US$988.5 million) as part of efforts to recoup part of the funds used to bail out the once troubled financial company.
The Korea Deposit Insurance Corp. (KDIC) sold 40.3 million shares to local and foreign institutional investors overnight for 22,750 won each. Woori Financial closed 3.9 per cent higher at 23,900 won on the Seoul bourse.
MOODY'S DOWNGRADES AMCOR CREDIT RATING
PERTH - Packaging giant Amcor Ltd's (ASX:AMC) credit rating has been downgraded by Moody's Investors Service amid concerns about the company's financial profile.
Moody's today downgraded the...
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