Friday, September 29, 2006

Bumi new loan downsized to US$900 million

PT Bumi Resources Tbk is pushed to downsize the amount of loan raised by Credit Suisse to US$900 million, but looking for mezzanine facility of US$300 million to make it US$1.2 billion.

Source at Bumi Resources said the US$900 million facility would be consisted of US$600 million 5-year and US$300 million y-year loans. Then to meet the demand (US$1.2 billion, of which US$805 million refinancing and the remaining for working capital), Bumi is looking for Mezzanine facility of US$300 million.
Bumi is expected to announce the fund raising result this afternoon. Interest rates are believed to be higher.

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