Palm oil producer PT Bakrie Sumatera Plantations Tbk (UNSP), that is owned by Bakrie family, has mandated three banks namely PT Bank Internasional Indonesia Tbk, Credit Suisse Group, and Raiffesen Bank International AG to seek a 5-year US$250 million loan facility.
As quoted by Bisnis Indonesia today, the loan facility will be used by Bakrie Plantations to refinance 10.75% US$160 million notes which will due in November.
As of March 2011, Bakrie Plantations recorded Rp1.93 trillion bank loans and bond with net equity of Rp8.45 trillion, reflecting 0.22 times of bank loan to equity ratio. The additional loan will increase bank loan to Rp4.04 trillion.
Disclosure: No position at the stock mentioned above.
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