Pelindo Ⅱ frustrates lenders

摘要

Pelindo Ⅱ's last-minute decision to cancel nearly half of a debut US$1bn syndicated loan disappointed the 43 lenders that had just completed credit approvals to join the Indonesian port operator's generously priced facility. After cutting the size of the loan, Pelindo Ⅱ deemed the existing pre-funded US$550m total too small to syndicate to a wider bank group, leaving the mandated lead arrangers and underwriting bookrunners holding the facility.