Aug 6, 2010

Medco E&P secures US$90 mio loan

Three local banks PT Bank Negara Indonesia Tbk (BBNI), PT Bank Mandiri Tbk (BMRI), and PT Bank Central Asia Tbk (BBCA) have provided loan facilities worth US$90 million to PT Medco E&P Lematang, subsidiary of publicly listed oil and gas producer PT Medco Energi Internasional Tbk (MEDC). 
Medco Energi President Director Darmoyo Doyoatmojo said the company will use the loan facilities to develop gas Singa block field Lematang, South Sumatra. "Each bank has provided US$30 million and they have also been mandated as lead arranger," he said.

Disclosure: No position at the stock mentioned above.

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