Bumi Resources gets $1.2 billion loan
Wednesday, September 20 2006 - 01:30 AM WIB
JSX-listed PT Bumi Resources has secured US$1.2 billion in syndicated loans from several creditors after a road show arranged by Credit Suisse to foreign countries, Bisnis Indonesia reported Wednesday.
Bumi's commissioner Nalinkant A. Rathod said the loan would be disbursed in three tranches. In the first tranche A, the company will get $700 million, in B $200 million and in tranche C $100 million.
?At present we are still negotiating the interest rate and it is scheduled to clinch the deal by Sept. 22," Rathod was quoted by Bisnis Indonesia as saying.
Rathod has also said separately that a big portion of the loan will be used to refinance its debt.
"We will get $1.2 billion in syndicated loans which will be used to refinance Bumi's $800 million debt," Rathod told Dow Jones Newswires.
Rathod said the loans will have a tenor of six years. He didn't name the lenders. (*)