Mar 27, 2012

Bayan to refinance US$410 mio debt

Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by Dato' Low Tuck Kwong, aims to refinance US$410 million debt with new loan facilities of US$700 million-US$900 million.
Director Jenny Quantero at Bayan Resources said the company will use the loan facilities to refinance debt, enhance production infrastructure, and acquisitions.
Bayan plans to spend a US$200 million capital expenditure this year, while last year the company spent US$80 million-US$100 million.
Disclosure: No position at the stock mentioned above.  

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