Adaro units obtain loans to refinance debts
Wednesday, December 23 2015 - 07:55 AM WIB
By Ruli Setiawan
IDX-listed PT Adaro Energy Tbk said that its subsidiaries coal mining contractor PT Saptaindra Sejati (SIS) and barging company PT Maritim Barito Perkasa (MBP) have obtained loans worth US$320 million to refinance debts.
Adaro said in a statement that SIS and MBP signed the six-month loan facilities with a group of 12 banks on December 21. SIS obtains $200 million loan, while MBP $120 million.
The company said that the banks offered loans up to $3.55 billion, or an oversubscribed of 11 times.
The two loan facilities will be used to repay debts obtained by SIS on February 18, 2011, and by MBP on May 29, 2012.
Editing by Reiner Simanjuntak