Dian Swastatika signs $50m loan addendum to its coal unit

Indonesian listed coal group PT Dian Swastatika Sentosa Tbk (DSS) said Tuesday that it has signed an addendum of credit facility worth of US$50 million to its coal unit PT Bumi Kencana Eka Sejahtera (BKES).

Under the addendum, the period of the facility is extended until 31 December 2012 with loan interest from 8 percent to 6 percent per year, DSS said in a statement

The load was provided to BKES for working capital, to finance the expansion of its coal business, and capital expenditure including coal infrastructure development

BKES is another coal unit owned by DSS, aside from PT Golden Energy Mines (GEMS). BKES has several coal mines in Sumatra.

Edited by Denny