Nov 24, 2010

BUMA signs US$600 mio loan Thursday

PT Bank Mandiri Tbk along with four foreign banks serve as the mandated lead arranger of PT Bukit Makmur Mandiri Utama (BUMA), totaling US$600 million. Such amount of fund shall be used to refinance loan and bond.
BUMA is Indonesia's largest coal mining contractor and wholly owned subsidiary of PT Delta Dunia Makmur Tbk (DOID).
Those four foreign banks participating in such corporate action are Morgan Stanley, Sumitomo Mitsui Banking Corporation, ING Bank and Bank of Tokyo.
Morgan Stanley will also become the arranger of refinancing and buy back of dollar-denominated bonds belonging to the subsidiary of PT Delta Dunia Makmur.
An executive familiar with the matter said that the total loan facilities are equally divided amongst those five banks.
They plan to sign the memorandum of understanding this week. “Each of the banks shall obtain US$500 million. Hopefully, we will sign such agreement this Thursday,” he said yesterday evening as reported by Bisnis Indonesia daily today.
The source also added that Indonesia Exim Bank (LPEI) is also reported to take part on such syndication though LPEI will penetrate through one of those foreign banks or directly conduct a deal with the consumers.“LPEI will not involve in the negotiation as only those five banks take part on it. Yet, possibly LPEI will penetrate through one of those banks or directly through costumer [BUMA],” the sources said.
Managing Director LPEI Dwi Wahyudi juga enggan memberikan komentar. “Saya lagi rapat. Pak Arifin saja,” katanya.(luz)
On the different occasion, Managing Director of LPEI, Dwi Wahyudi also declined to comment. “I am in the middle of a meeting, just call Mr. Arifin,” he said.

Disclosure: No position at the stock mentioned above.  

Print This Article

No comments: