May 31, 2011

Adaro Indonesia seals US$750 mio loan

PT Adaro Indonesia, Indonesia’s second largest thermal coal producer and also a unit of PT Adaro Energy Tbk, secured US$750 million bank loan facility to fund its capital expenditure and acquisition cost.
Citing Director Andre Mamuaya, Investor Daily today reported that he did not give further details about the lender before the two parties sign an agreement. 
Adaro Indonesia got an US$1 billion loan commitment, surpassed its targeted loan facility at US$750 million. Meanwhile, Finance Director David Tendian said the US$1 billion loan commitment is the highest commitment in 10 years. 
The other subsidiary of Adaro Energy, PT Saptaindra Sejati, also received US$400 million on February 2011 with loan tenor seven years. Adaro Energy paid its US$800 million ten-years bonds which published on Oktober 2009.

Disclosure: No position at the stock mentioned above.

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