Golden Eagle gets US$35m loan
Thursday, March 21 2013 - 01:02 AM WIB
By Peni Pedriawan
IDX-listed PT Golden Eagle Energy subsidiary PT Triaryani has on March 8 signed US$35.05 million worth of credit facility with Bank Permata, the company said in a statement to the exchange on Wednesday.
Golden Eagle stated to provide corporate guarantee to Bank Permata in the form of proportional effective ownership at Triaryani.
The loan will be used to finance the development of Triaryani's mine that includes mine and land acquisitions, hauling infrastructure development as well as connecting bridge between mine location to port.
Through Triaryani, Golden Eagle holds a coal mining project in South Sumatra with reserves of 242 million tons.
Editing by Er Audy Zandry