Buma raise US$285 million loan

PT Bukit Makmur Mandiri Utama Tbk, the Indonesian coal mining contractor also known as Buma, raised $285 million from a four year loan.

The creditors included Barclays Plc, Deutsche Bank AG, ING Groep NV, Macquarie Group Ltd., Bank of Tokyo- Mitsubishi UFJ Ltd., Sumitomo Mitsui Banking Corp., and Noonday
Asset Management.

Sidoarjo-based property company PT Delta Dunia Petroindo is buying Buma for $240 million plus $310 million in assumed debt.

Buma closed the $285 million loan after selling $315 million of five-year, 11.75 percent bonds this week. The loan was priced to pay 450 basis points over the London interbank offered rate.