Indonesian sovereign wealth fund Danantara has lined up a multi-currency syndicated credit facility equivalent to $1 billion, according to people familiar with the matter, months after having approached banks for as much as $10 billion.
DBS Group Holdings Ltd., HSBC Holdings Plc, Standard Chartered Plc and United Overseas Bank Ltd. are underwriting the three-year revolving credit facility, the people said, who asked not to be identified discussing private matters.
Proceeds from the line of credit, which is unsecured, will be used for general corporate purposes, including acquisitions and investments, they added.