Apr 27, 2011

United Tractors seals US$155 mio loans

Indonesia's largest coal mining contractor PT Pamapersada Nusantara, a wholly owned by PT United Tractors Tbk (UNTR), secured US$155 million loan facilities from three foreign banks.
The loan, which was signed by Pama and Sumitomo Mitsui Banking Corporation Ltd, Singapore, (SMBC) on April 5 2011, is comprising a term facility of US$45 million and revolving facility of US$30 million. 
However, Pamapersada has yet mentioned the facility usage. Pama also obtained loan facility of US$50 million from Mizuho Corporate Bank Ltd, Singapore, on January 12 2011. The facility is consisting US$30 million of term facility and US$20 million revolving facility.
Pama also sealed US$30 million revolving facility from Citibank N.A. on March 21 2011. The term facility will be repayable from 2012 to 2013 of US$5 million per year. 

Disclosure: No position at the stock mentioned above.

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