Three months after securing US$600 million of credit facility from several lenders such as Mitsubishi UFJ and Sumitomo Mitsui Banking Corporation, PT Bukit Makmur Mandiri Utama (BUMA), a wholly owned subsidiary of PT Delta Dunia Makmur Tbk (DOID), is currently in talks with about 12 lenders for a new loan facility.
For sure, BUMA, backed-up with three stellar indirect shareholders, Texas Pacific Group, Government of Singapore's Investment Corporation, and Chinese sovereign wealth company China Investment Corporation (CIC), is coming to 12-15 lenders to seal the new loan with soft covenants.
"BUMA intends to refinance the existing loan facility of US$600 million with another loan with saggy covenants," the source close to the matter told Insider Stories recently. How much financing BUMA needs? Who is the new commissioner? Please login or register to read the remaining story.
Disclosure: No position at the stock mentioned above.
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