What is Bridge Loan in India

Bridging loan in India?

Prague Chakravarti's Tales Barito Pacific, a diversified company quoted on the Jakarta stock exchange, and Indonesia Power, a daughter company of the state-owned Perusahaan Listrik Negara, are in talks with the banking community about a USD 2 billion loan to finance the building of two 1,000 MW coal-fired power stations in Indonesia. Malaysia's integrated refinery and petrochemicals development program is asking Malaysian financial institutions to commit to a $9.7 billion 15-year loan.

Adaro Energy, Indonesia, and EMR Capital, Australia, a privately held company, were financed with a USD 1.69 billion reduction in the volume of their USD 1.69 billion loan for the Rio Tinto Turmfalke mine, with 14 creditors contributing the notes and a Southern Koran bank contributing the capital. The State Bank of India is looking for a new five-year loan of around USD 300 million - USD 400 million after a three-year loan of USD 750 million did not draw creditors into the general syndication.

The recent flood of overseas acquisitions financing from China may be short-lived as the worsening relationship between China and the US restricts investments and opens the door to a possible future international commercial conflict. Tsinghua Unigroup, the state-owned technological group, has signed a 1.5 billion ($1.75 billion) bridging loan for the planned takeover of the Linxens smart card component manufacturer in France.

The Citigroup has introduced changes to its credit and acquisitions financing teams in Asia Pacific, among them the recruitment of Alok Jhingan and Simon Marrison in Australia. Perusahaan Listrik Negara, the state-owned power company, is taking an uncommon step to revise the conditions of its first USD 2 billion loan in U.S. dollars after the business was brought into general underwriting early this month. However, the company's first loan in a single country was not granted in the same year.

Muslim bridge credits in the pipelines

It is anticipated that the new interim financing line will be introduced at the end of 2006. One Bridging Director of operations Stewart Lancaster says: "We are in discussions with a number of Muslim executives to make sure that our customers can be confident that the products will comply with all aspects of Sharia legislation as soon as they come to market.

And as a fexible lending provider, One Bridging is hoping to provide brokers with a new interim financing paradigm, providing up to 80% LTV on home ownership.

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