Jan 14, 2011

BW Plantation settles Rp200 bio debts

Palm oil player controlled by Widodo family PT BW Plantation Tbk (BWPT) has settled a Rp200 billion bank loan to Bank Artha Graha and Citibank. BW Plantation has utilized a lower cost rupiah bonds issued in November to refinance the bank loans. 
Kelik Irwantono, BW Plantation Corporate Secretary, said the company has paid the loan facility of Rp56 billion to Bank Artha Graha at end of last year. The facility was consisting of Rp12.47 billion and US$4.81 million.
BW Plantation, as reported by Kontan daily today, also refinance Rp144 billion loan facility to Citibank."We paid the loan in the second week of January," he said. 
In addition, the loans payment was in line with the proceed usage of the bonds issuance.About 30% of the proceed has been used to refinancing existing loans. BW Plantation raised Rp700 billion from the bonds issuance. 

Disclosure: No position at the stock mentioned above. 

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