Bumi secures a new loan to pay out other short-term loans
Thursday, February 9 2012 - 12:40 AM WIB
By Alexander Ginting
Indonesia coal mining giant PT Bumi Resources Tbk reported on Wednesday that it has secured new loan of US$600 million from China Development Bank Corporation.
The loan, which will mature in four years, will carry interest of LIBOR plus 6.7 percent per annum.
Bumi said the credit facility will be used to pay short-term loans from Bank of America, Merrill Lynch, Barclays and JP Morgan.
Editing by David Mustakim