Adaro's subsidiary gets $400 million loans
Tuesday, February 22 2011 - 08:44 AM WIB
Coal mining contractor PT Saptaindra Sejati (SIS) a subsidiary of Jakarta-listed coal mining giant PT Adaro Energy Tbk has signe loan agreements worth US$400 million with a group of national and international banks.
The loan agreements were signed on Feb. 18, 2011, Adaro said in a statement on Tuesday.
The company said the loan, which will mature in 7 years will be used pay out all of SIS? current debts and for capital expenditure.
The facilities are guaranteed by Adaro.(alex)