Energi Mega seeks to refinance costly debts
Saturday, July 23 2016 - 03:20 AM WIB
By Brigida Ernestina Elu Wea
IDX-listed oil and gas firm PT Energi Mega Persada Tbk is seeking to refinance debts with high interest rate this year in a bid to ease the company?s financial burden.
Energi Mega President Director Imam Agustino said that the company has three long-term debts, each with a value of US$60 million, carrying high interest rate of up to 20 percent.
He said that the company is currently looking for banks, both domestic and overseas, to seek new loans with lower interest rate to refinance the existing debts. He added that the company last year managed to successfully refinance part of its debts.
Editing by Reiner Simanjuntak