Medco, Mandiri sign $125m renewed loans
Wednesday, March 18 2009 - 02:06 AM WIB
IDX-listed energy firm PT Medco Energi Internasional Tbk (MedcoEnergi) and PT Bank Mandiri (Persero) Tbk. have signed an agreement to renew three existing loan facilities worth of US$ 125 million.
The one-year facilities consist of a $50 million working capital credit facility, a $50 million non cash-loan facility and a $25 million forex line facility. The terms and conditions of the facilities are similar with those of the replaced facilities, MedcoEnergi said in statement on Tuesday.
?To ensure that the developments of its major projects are achieved within the timeframe envisages, MedcoEnergi will further look at other financing avenues,? it said. (denny)