UT, MPU sign loan facility worth $30 million
Tuesday, May 1 2012 - 02:45 AM WIB
By Romel S. Gurky
PT United Tractors Tbk and its subsidiary company PT Multi Prima Universal (?MPU?) signed shareholder loan agreement worth US$30 million for the latter to expand its business dealing on rental, used heavy equipment and mining contracting affairs.
Under the agreement signed on April 27, the loan facility would consist of two types with the first tranche worth $25 million has term loan term facility of 3 years and the remaining of revolving facility of $5 million.
The company in its statement said that the loan would be used as MPU?s capital expenditure to expand its business.
Editing by Adianto P. Simamora