VIVAnews – PT Bumi Resources Tbk (BUMI) has again earned US$ 150 million worth of loan from JP Morgan Chase Bank NA. The signing of the credit agreement was conducted on Monday, December 7.
Bumi Resources Director, Eddie J Soebari in the company’s press release published by the IDX in Jakarta says that JP Morgan Chase Bank NA acts as original lender and arranger.
Meanwhile, the company’s Hong Kong office will serve as facility and security agent. “The term of the loan is six years,” Soebari said.
However, he did not elaborate on the use of the loan. He only said the transaction was not material, an affiliation and does not have any conflict of interests.
Earlier, from August to November 2009, Bumi Resources had gained US$ 3.17 billion worth of funding. The uses of the funds include debt covering.
During the company’s public presentation at the 2009 Investor Summit and Capital Market Expo on December 3 in Jakarta, it was mentioned that JP Morgan received US$ 1.9 billion of loan facility from China Investment Corporation (CIC), US$ 375 million of obligation conversion issuance and US$ 300 million worth of Credit Suisse facility.
The company also issued US$ 300 million of bond and US$ 300 million of obligation conversion.
The loan facility from CIC was used to re-pay the US$ 1.2 billion debt, acquire US$ 500 million, swap US$ 100 million of equity, provide business capital and other expenses that are worth US$ 100 million.
As for the US$ 375 million of obligation conversion issuance, the fund was used to swap US$ 115 million of equity, cap US$ 52 million of calls, conduct capital spending and US$ 208 million worth of other expenses.
The facility from Credit Suisse and the guaranteed bond were entirely used for investments and acquisitions.
Bumi also allocated US$ 100 million out of the US$ 300 million of obligation conversion to re-pay debts, US$ 25 million to swap equity, US$ 169 million for investments and acquisitions and US$ 6 million for other expenses.
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Translated by: Nataya Ermanti
VIVA.co.id
29 Maret 2024
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