April 23, 2019 / 9:25 AM / 3 months ago

Indonesia's PLN secured $1.2 bln worth of loan for power projects

JAKARTA, April 23 (Reuters) -

* Indonesia’s state electricity utility Perusahaan Listrik Negara (PLN) signed a 16.75 trillion rupiah ($1.19 billion) loan deal with local banks, the company said in a statement on Tuesday

* The 10-year borrowing included 3.5 trillion rupiah worth of Islamic financing, the statement said

* The loan will be used to help finance PLN’s power projects, part of its 35 gigawatt power development programme

* Banks such as Bank Mandiri, Bank Rakyat Indonesia , Bank Central Asia and CIMB Niaga were among participants in the syndicated loan. ($1 = 14,070 rupiah) (Reporting by Wilda Asmarini Writing by Fransiska Nangoy)

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