Jul 13, 2011

Domas Agrointi debt restructured

Palm oil producer PT Bakrie Sumatera Plantations Tbk (UNSP) has reached agreement of US$210 million debt restructuring of PT Domas Agrointi Prima with its creditors.
According to Bakrie Plantations' Corporate Secretary Fitri Barnas, in a disclosure statement to Indonesia Stock Exchange, the restructuring will put on effective after the conditions have been accomplished. Credit Suisse is the arranger, security agent, and facility agent for the debt restructuring.
Bakrie Plantations acquired Domas Agrointi and its debts in December last year via PT Nibung Arthamulia.  Last year, Bakrie Plantations restructured US$190 million debts of Domas Agrointi (Dombas Mas Group) to Procter & Gamble, Credit Suisse, and US$78 million to Bank Mandiri.

Disclosure: No position at the stock mentioned above.

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