Indonesia's Bumi Resources Secures $600 Million Loan To Pay CIC
08 11월 2011 - 10:24PM
Dow Jones News
Indonesia's thermal coal producer PT Bumi Resources (BUMI.JK)
said Tuesday that it has paid $600 million of its debt to China
Investment Corporation, or CIC, due in September 2013, as part of
its efforts to reduce its debt burden.
The company said in a statement that it has secured the funds
via a syndicated loan from Bank of America Merrill Lynch, Deutsche
Bank, Barclays Bank and J.P. Morgan.
Bumi added that interest from the banking syndicate was about 6
percentage points above the London interbank offered rate.
"Effectively, this now reduces the interest by [around] $72
million on an annualized basis," Bumi spokesman Dileep Srivastava
said in the statement. The company did not detail when the
syndicated loan will mature.
-By Linda Silaen, Dow Jones Newswires; +6221 398 31277;
andreasismar.sandiwan@dowjones.com