BNBR secures loans worth $193.97m

January 18, 2012, 11.49 AM | Reporter: Edy Can

ILUSTRASI. IHSG berhasil ditutup menguat 0,56% di level 6.077,75 pada Rabu, 3 Februari 2021. IHSG diperkirakan melanjutkan penguatan, sebaiknya pantau rekomendasi saham hari ini. ANTARA FOTO/Reno Esnir/rwa.

JAKARTA. PT Bakrie & Brothers (BNBR) has secured a credit facility amounting to US$193.97 million from Credit Suisse AG, Singapore.

According to a file submitted to the Indonesia Stock Exchange (IDX), the facility is part of credit amounting to $437 million in total disbursed to BNBR and its affiliated company based in Nevis, West Indies, Long Haul Holdings Ltd. (LHH).

“BNBR and LHH signed a credit agreement over a term loan facility on Jan. 12. According to the agreement, the company’s responsibility is separate from that of LHH,” the file said.

BNBR director of finance Eddy Soeparno said that the credit would be used to refinance the company’s loans.

“We pledged shares in Bumi Plc. for the credit facility,” Eddy said, but he declined to give further details. BNBR has taken various measures to obtain more funds to settle its growing debt, including divestment of a number of shares in its subsidiaries such as PT Bakrie Telecom and PT Bakrie Sumatera Plantation. (The Jakarta Post)