Indonesia's Astra Int'l secures $387.2 mln loan

JAKARTA, Jan 26 (Reuters) - Indonesia's largest automotive distributor, PT Astra International Tbk (ASII.JK: Quote, Profile, Research), has secured $387.2 million in loans from syndicated banks to finance its business expansion plans, the firm said.

Astra International's finance director, Simon J. Mawson, said in a statement late on Friday the revolving loan will be used to finance the company's spending and investments, but the company did not give details.

The loan was arranged by BNP Paribas (BNPP.PA: Quote, Profile, Research), Citibank N.A., The Hongkong and Shanghai Banking Corp Ltd (0005.HK: Quote, Profile, Research), Mizuho Corporate Bank Ltd., PT Bank Mandiri Tbk (BMRI.JK: Quote, Profile, Research), Standard Chartered Bank and Sumitomo Mitsui Banking Corp.

"This indicates the confidence that the banking sector has in Astra's growth prospects for the future," Mawson added.

The company, in which Jardine Cycle & Carriage Ltd. (JCYC.SI: Quote, Profile, Research) has a 50.1 percent stake, is the largest automotive distributor for both motorcycles and cars in Southeast Asia's biggest economy.

Apart from its automotive business, it also controls a range of businesses that include plantations, banking, financial services and heavy machinery.

The firm reported a 53 percent rise in nine-month net profit to 4.58 trillion rupiah ($491.1 million), thanks to a recovery in vehicle sales and strong commodity prices.

The firm's shares closed up 3.09 percent at 26,700 rupiah on Friday. The broader market .JKSE ended 4.12 percent higher. (Reporting by Nury Sybli, writing by Tyagita Silka; Editing by Sugita Katyal) ($1=9,325 rupiah)