Adaro's MBP secures US$160 million loan
Thursday, May 3 2012 - 07:23 AM WIB
By Romel S. Gurky
Indonesia coal miner PT Adaro Energy Tbk has recently announced that its wholly owned subsidiary PT Maritim Barito Perkasa ("MBP'), a barging company, secured a US$160 million bank loan from a group of ten foreign banks.
The loan will mature in seven year (5.75 year average life).
Announcing the transaction, which drew US$915 million of commitments and was 5.7 times oversubscribed, Adaro Energy's Director and Chief Financial Officer David Tendian were pleased with the strong response of the banks.
"We are thankful for their continued support," he said.
Editing by Er Audy Zandri