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Syndicated loan granted to PTT's subsidiary

Nine banks have signed a syndicated loan with HMC Polymers Ltd on Friday, five of which are foreign banks and the reminders are four local banks.

The total loan amount is US$475 million (more than Bt16 billion). The proceeds would be used for its petrochemical plants expansion. HMC is a subsidiary of PTT Plc.

"The syndicated loan granted to HMC may be the largest deal in term of loan amount for the country this year. And it's possible to lead to others syndicated project finance in the country," according to Hongkong and Shanghai Banking Corporate (HSBC), AsiaPacific's managing director David Gardner.

Separately, Bangkok Bank's executive vice president Khanit See said banks syndicated loans which has been sluggish for a long time are expected to resume next year. This is based on assumption that the Kingdom's economy would recover, which would boost the country's investment.

-The Nation

Anoma Srisukkasem

Somruedi Banchongduang

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Syndicated loan granted to PTT's subsidiary

Nine banks have signed a syndicated loan with HMC Polymers Ltd on Friday, five of which are foreign banks and the reminders are four local banks.

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