Release: United Tractors: $10 m prepayment of UT refinanced debt
Thursday, June 29 2006 - 03:50 PM WIB
Back in March 2006, the Company?s debt position was recorded at USD 70 million. Hence, the current prepayment initiative would successfully reduce the debt further to USD 60 million. The facility has a three-year maturity and will be due on October 2008,with an option to extend for two years.
PT United Tractors Tbk is the leading distributor of quality heavy equipment and components as well as the largest mining contractor in Indonesia. Its flagship brand is Komatsu and since 1973 the Company holds the exclusive distributionship of Komatsu heavy equipment throughout Indonesia. PT United Tractors Tbk is majority owned by PT Astra International Tbk, which is in turn majority owned by Jardine Cycle & Carriage Ltd, an integral member of the Asian-based conglomerate, the Jardine Matheson Group. (end of release)
