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Wednesday, 07 October 09
ADARO SECURES $500 M LOAN


The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 million worth of loans from 11 foreign banks.

Those banks include Sumitomo Mitsui Banking Corporation, BNP Paribas, The Bank of Tokyo-Mitsubishi UFJ Ltd. Singapore chapter, and DBS, the company said in a statement sent to the Indonesia Stock Exchange on Wednesday.

The loan has a maturity period of 60 months with interest rates based on LIBOR (London Inter Bank Offered Rates) and applicable margins.

The loan will be used for capital expenditures and financing acquisition of a local shipping company.
Source: The Jakarta Post



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