Jul 6, 2010

Pertamina seals US$565 mio bank loan

State-owned oil and gas producer PT Pertamina (Persero) has sealed US$565 million of loan facilities from 4 national banks.
Pertamina Finance Director M. Afdal said the company has signed the loan agreement last week. "We have secured loan from PT Bank Mandiri Tbk, PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia Tbk, and PT Bank Central Asia Tbk," he said.
According to him, Pertamina will use the loan facilities as working capital and capital expenditure for upstream business expansion.
"We don't have any plan to add more debt. We will see the requirements," he said.
He said Pertamina's bond issuance is on the list. The company hopes to issue the bond this year.
Pertamina is waiting for accomplishment of 2009's audited financial report.
"We estimate audit would complete in September. Hence, bond issuance might be held early next year," he said.

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