Parrot can be 300 Million U.S. Dollars Loan
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Parrot can be 300 Million U.S. Dollars Loan
Jakarta (ANTARA) - Company coal miner PT Bayan Resources Tbk has received long-term loans with a value of 300 million U.S. dollars.
Director of Bayan, Chin Wai Fong, said Friday in information disclosure, the company has signed a loan facility of U.S. dollars 300 million with Standard Chartered Bank (SCB) and Sumitomo Mitsui Banking Corporation (SMCB) on 22 April 2010 in Jakarta.
According to him, the loan facility with a term of five years consists of 150 million dollars in the form of long-term loans and 150 million dollars in the form of revolving working capital loans that mature in two years.
He added that the purpose of this loan is to finance the remaining debt of 300 million syndicated loan of U.S. dollars which was previously signed on April 2008. Much more to strengthen its capital expansion projects.
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