J Resources mortgages shares in subsidiary
Wednesday, February 11 2015 - 01:20 AM WIB
By Romel S. Gurky
IDX-listed gold mining firm PT J Resources Asia Pasifik Tbk said Tuesday it has mortgaged its 51 percent shares in subsidiary PT J Resources Nusantara as part of a 2013 lending agreement with a consortium of local and foreign banks.
The company said that it signed the share mortgage agreement on February 6 with PT Bank Permata Tbk, a member of the lender consortium.
In November of 2013, PT J Resources Nusantara obtained a US$275 million loans from a syndicated of banks including Bank Permata, Indonesia Eximbank, Qatar National Bank SAQ, PT Bank QNB Kesawan Tbk, and PT Bank ICBC Indonesia.
Editing by Reiner Simanjuntak