Adaro signs $500m loan agreement
Tuesday, October 6 2009 - 02:37 PM WIB
IDX-listed coal mining group PT Adaro Energy Tbk reported on Tuesday that its subsidiary South Kalimantan coal mining firm PT Adaro Indonesia has signed US$500 million loan agreement with a number of international and national banks.
The Amortising Revolving Credit Facility loan, which will mature in five years, will carry interest of LIBOR plus undisclosed margin.
Lead arrangers for the loan included OCBC, DBS, Mitsubishi UFJ, United Overseas Bank Limited, China Trust Commercial Banks, ANZ Panin Bank, Bank Mandiri, Standard Chartered Bank and HSBC.
The company said loan received will be used to acquire shipping companies to meet government regulation which required domestic shipping activities to be carried out by Indonesian-flagged vessels.(alex)