Oct 21, 2011

Bakrie Plantations to pledge assets

Palm oil producer PT Bakrie Sumatera Plantations Tbk (UNSP) will pledge 60% of its plantation assets to certain lenders in a bid to secure a US$250 million new club deal facility.
President Director Ambono Janurianto, as quoted by Bisnis Indonesia, said the facility, that will be redeemed this month, is the new facility. In return, there are no assets pledged to the facility.
The three anchor banks for the facility are Bank Internasional Indonesia, Credit Suisse Group AG, and Raiffeisen Bank International AG.
He is optimistic that the company enables to obtain the facility, despite a US$185 million debt maturity scheduled on November 1 2011.

Disclosure: No position at the stock mentioned above.
 
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