Oil and gas producer PT Medco Energi Internasional Tbk (MEDC) has secured US$150 million loan facility from PT Bank Negara Indonesia Tbk (BNI).
The facility will mature in 5 years since the signing of the loan agreement, said official statement submitted to Indonesia Stock Exchange today.
Medco will use the facility to refinance its existing loan and working capital. "The loan facility will be used to refinance existing loan which will mature in 2012," said Finance Director Syamsurizal Munaf said in the statement.
Disclosure: No position at the stock mentioned above.
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