Feb 21, 2011

Berlian Tanker seals US$685 mio loan

PT Berlian Laju Tanker Tbk (BLTA) has secured US$685 million loan from five banks merely to fulfill its financing needs, including debt refinancing.
The management of Berlian Tanker during the information disclosure in Singapore’s Stock Exchange revealed that those five banks are DnB NOR Bank ASA, Nordea Bank AB, Standard Chartered Plc, ING Groep NV, NIBC Bank NV, and BNP Paribas SA.
“The company provides collateral in the form of 43 vessels maturing in five years,” said Berlian Laju’s management.
At the moment, Berlian Laju’s liability is still relatively high, reaching US$2 billion as it will come due by 2017.
When being confirmed, Berlian Laju’s Corporate Secretary, Kevin Wong declined to clarify.
Berlian Laju Tanker allocated US$108 million of capital expenditure to fulfill its working capital needs and finance its investment in 2010 until 2012.

Disclosure: No position at the stock mentioned above.  

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