JAKARTA (Thomson Financial) - Indonesia's largest mining contracting company
PT Pamapersada Nusantara said Monday it has signed a 425 million US dollar
syndicated loan facility with 23 lenders.
It said it will use the loan to refinance existing borrowings, working
capital and other funding purposes.
The facility comprises a 5-year 290 million US dollar term loan and a 3-year
135 million revolving credit facility. The revolving credit maturity can be
extended by two years.
Pamapersada said the original facility was 350 million US dollar, but was
increased to 425 million to accommodate part of the oversubscription.
"The oversubscription we achieved during general syndication of the facility
is remarkable considering that this syndication was launched and closed during
the recent turbulence in the financial markets," said Pamapersada presidenet
Sudiarso Prasetio.
Pamapersada manages numerous coal mines and quarries in Indonesia, with
approximately 41 percent market share. It has long-term contracts with leading
Indonesian mining companies such as PT Adaro Indonesia, PT Indominco Mandiri and
PT Kaltim Prima Coal.
Pamapersada is a wholly-owned subsidiary of PT United Tractors, which in
turn is 58.45 percent-owned by PT Astra International.
The lead arrangers of the facility are DBS Bank Ltd, The Hongkong and
Shanghai Banking Corp Ltd, Mizuho Corporate Bank, Ltd/ PT Bank Mizuho Indonesia,
Standard Chartered Bank, Sumitomo Mitsui Banking Corp, and United Overseas Bank
Ltd/ PT Bank UOB Indonesia.
(1 US dollar = 9,183 rupiah)
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