AH45 Citi Fun 24

RNS Number:5754X
BIL International Limited
21 June 2002



MASNET No. 19 OF 21.06.2002

Announcement No. 19


   BIL INTERNATIONAL LIMITED


Re-financing arrangements for BIL Asia Group Treasury Limited

The Board of Directors of BIL International Limited ("BIL") wishes to announce
that on 21 June 2002, a Facility Agreement (the "Facility Agreement") has been
entered into between (1) BIL Asia Group Treasury Limited ("BILAGT"), a
wholly-owned subsidiary of BIL as borrower, (2) BIL, as guarantor and (3) United
Overseas Bank Limited, as lender.

The lender has agreed to make available a multicurrency revolving loan facility
of up to US$280 million (the "Facility").

Mr Arun Amarsi, Chief Executive Officer, said, "We are delighted that we have
been able to renew our financing facilities, which underscores the strength of
our focused strategy to enhance the value of our investment portfolio."

It is intended that the proceeds of the Facility will be applied towards inter
alia, refinancing BILAGT's US$600 million Transferable Loan Facility ("TLF"),
arranged by HSBC which matures on 23 July 2002.  The Facility will also be used
to fund BIL Group's working capital requirements and general corporate purposes.
The current outstanding amount on the TLF is US$300 million.


None of the Directors or substantial shareholders of BIL has any interest,
direct or indirect, in the Facility.

The refinancing has no significant impact on the gearing ratio and the net
tangible assets per share for the year ending 30 June 2002.


Enquiries:

BIL International Limited

Singapore                                  Tel:     +65 6438 0002

Arun Amarsi, Chief Executive Officer       Email:   a.amarsi@bil.com.sg


Submitted by Jane Teah, Company Secretary on 21/06/2002 to the SGX


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