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Dec 01, 2016 15:47:00

Bukit Asam ($PTBA) to eye for another mining asset

According to local press, PTBA is planning to acquire another mining asset in FY17, which the company has reserved budget of more than USD100mn. To finance their expansion projects, PTBA has obtained loan from Bank Mandiri ($BMRI) amounting to USD230mn and Rp1.7tn. The USD230mn bank loan consists of USD100mn special borrowing facility (for capex) and USD130mn treasury line (for foreign currency needs). On the other hand, the Rp1.7tn consists of Rp700bn supplier financing and Rp700bn Trust Receipt non LC (for payment to suppliers) as well as Rp300bn invoice financing facility. (Kontan)

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