Aug 19, 2010

Newmont mandates 3 banks to seek loan

PT Newmont Nusa Tenggara (NNT), one of Indonesia’s largest gold mining companies, has appointed PT Bank Mandiri Tbk (BMRI), Sumitomo Mitsui Banking Corporation and BNP Paribas to become the arranger over US$600 million loan.
Vice President of Bank Mandiri, Riswinandi, revealed that the loan is due to 5 until 7 years.
“The loan proportion is averagely divided, each phase amounting US$200 million,” he said last night.
He further added that several parties involved in such corporate action are now assessing the loan scheme.
“The loan shall be used to finance the company’s capital expenditure.”
Riswinandi categorized such loan as investment credit. At the moment, Newmont is preparing a plan over its initial public offering.
 
Disclosure: No position at the stock mentioned above.

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