Bormindo Nusantara teams up with Bank Mandiri
Thursday, July 4 2013 - 03:18 AM WIB
By Romel S. Gurky
PT Bormindo Nusantara, a subsidiary of IDX-listed PT Ancora Indonesia Resources, announced on Wednesday it has signed an addendum to a previous agreement with Bank Mandiri on bank guarantee facility.
The addendum was signed on July 2 which doubles the amount of guarantee from Bank Mandiri to US$10 million, a statement said.
Bank guarantee facility enables a company to acquire or buy equipment, or draw down loans at a certain limit.
Bormindo Nusantara is a company specializing in providing supportive services, including rig construction and services, in the oil and gas industry.
Editing by Dadan Wijaksana