Pertamina gets $200 million loan

State-owned oil and gas company PT Pertamina has obtained a loan of US$200 million loan facility from three international banks to import more fuel until end of this year.

?The $200 million loan agreement between Pertamina and Standard Chartered Bank, PT Bank Central Asia Tbk and Citibank was to fund the import of fuel on short-term contract,? the firm said in a statement on Tuesday.

The agreement was signed by Pertamina?s director of finance Alfred H. Rohimone, Standarad Chartered? head for client relationships Tom Bowed, PT Bank Central Bank?s president director D.E. Setijoso and Citibank?s country corporate officer Peter Elliot in Jakarta during early this week.

The loan, according to the statement, was needed to maintain Pertamina?s cash flow and to expand national fuel stock at the safe level of 22 days.

But the statement didn?t explain about terms of the loan agreement. (godang)