PT Bakrie & Brothers Tbk (BNBR) announced yesterday that the company is finalizing a new loan facility from certain creditor which will be used to refinance its debt of US$597 million to Credit Suisse.
In an official press statement, Bakrie said the company is in talks to complete loan documentations, expecting a closing date before October 31.
However, Bakrie hasn't disclose the size of the facility and the creditor. Few weeks ago, Reuters, quoting source, said Glencore International is in talks with Bakrie in a bid to channel US$800 million-US$900 million facility in return for a wider coal marketing agreement with PT Bumi Resources Tbk.
Disclosure: No position at the stock mentioned above.
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