Golden Energy secures $50m loan facility
Friday, November 3 2017 - 01:42 AM WIB
SGX-listed coal firm Golden Energy and Resources Limited said it has entered into a facility agreement for a term loan facility of up to US$50 million provided by Credit Suisse AG, Singapore Branch as the original lender.
The company said in a statement on Thursday the facility has been granted for the purpose of, among other things, financing the general corporate and working capital purposes of the company. The facility is secured by a share charge in favour of Credit Suisse AG, Singapore Branch over certain shares in IDX-listed coal firm PT Golden Energy Mines Tbk (GEMS) held by the company.
Pursuant to Rule 704(31) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the company wishes to inform shareholders that if a ?change of control? occurs, lender(s) under the facility may terminate all outstanding loans and commitments under the facility and require the company to immediately repay all outstanding amounts under the facility (including all outstanding loans and accrued interest).
A ?change of control? as defined under the facility agreement will occur if: (i) Mr. Franky Oesman Widjaja, Mr. Indra Widjaja and Mr. Muktar Widjaja and/or their respective related parties cease to control the company, (ii) the company ceases to control GEMS, or (iii) GEMS ceases to control the entities operating and/or managing the coal mining operations in relation to the PT Borneo Indobara Concession and PT Kuansing Inti Makmur Concessions.
The aggregate level of the facilities of the company and its subsidiaries that may be affected by the occurrence of a change of control is up to US$200 million, the Golden Energy statement said.
Editing by Reiner Simanjuntak