Semen Indonesia mandates 5 banks for US$1.3bn bridge loan

Semen Indonesia has mandated five banks for a US$1.282bn bridge loan to support its acquisition of the local unit of LafargeHolcim.

BNP Paribas, Deutsche Bank’s Singapore branch, Maybank, MUFG Bank and Standard Chartered are the lead arrangers and bookrunners for the two-year loan, which will be launched into syndication in 2-3 weeks, according to a company announcement.

The borrower agreed to acquire 80.6 per cent of Holcim Indonesia, one of the country’s largest cement producers from LafargeHolcim for an enterprise value of US$1.75bn. This includes four cement plants, 33 ready-mix plants and two aggregate quarries.