May 3, 2012

Adaro's subsidiary gets US$160 mio loan

Subsidiary of coal miner PT Adaro Energy Tbk (ADRO), PT Maritim Barito Perkasa (MBP), a barging 
company, secured a US$160 million, 7 years (5.75 year average life), bank loan from a group of  ten foreign banks.
In a press statement filed to Indonesia Stock Exchange today, Director and Chief Financial Officer David Tendian at Adaro said “We are pleased with the strong response of the banks 
and are thankful for their continued support."
During the process, the company drew US$915 million of commitments and was 5.7 times  oversubscribed.

Disclosure: No position at the stock mentioned above.

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