Toba Bara subsidiary gets loan from BNP Paribas
Thursday, October 18 2012 - 12:04 PM WIB
IDX-listed PT Toba Bara Sejahtera Tbk, the coal mining unit of Toba Sejahtra Group, recently stated that its 51 percent owned subsidiary PT Adimitra Baratama Nusantara had on October 16, 2012 signed an unsecured credit revolving facility amounting to US$15 million from PT Bank BNP Paribas Indonesia.
The loan, with tenor of one year and interest rate set at LIBOR+Applicable Margin, will be used to fund the company's working capital.
PT. Adimitra Baratama Nusantara is one of three mining units controlled by Toba Bara Sejahtera. The other two are PT Indomining and PT Trisensa Mineral Utama. All three concessions all located in Kutai Kartanegara regency, covering a total area of up to 7,000 hectares having proven reserves of 86 MT, probable reserves of 61 MT and resource of 236 MT.
Editing by Er Audy Zandri