Feb 27, 2011

Pamapersada seals US$50 mio loan

PT Pamapersada Nusantara, Indonesia's largest coal mining contractor and wholly owned subsidiary of PT United Tractors Tbk (UNTR), secured US$50 million bilateral loan facility on January 12 2011 from Mizuho Corporate Bank Ltd, Singapore.
In UNTR's financial statement, the facility is consisting of term facility of US$30 million and revolving loan of US$20 million. 
Last month, Pamapersada entered into interest rate swap with notional ammounts of US$5.85 million with PT Bank DBS Indonesia and US$6,1 million with PT ANZ Panin Bank to translate the floating interest rate into fixed rate for finance lease liabilities to PT Komatsu Astra Finance.
United Tractors recorded Rp190.82 billion of short term debt and other debts of Rp767.49 billion. In total, UNTR booked Rp958.31 billion debts.

Disclosure: No position at the stock mentioned above.

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