PT Bakrie Telecom Tbk secured a loan amounting US$50
million from a syndicate of lenders for the repayment of the I/2007
bond principal of the company.
The management of the company led by Anindya Novyan Bakrie in the disclosure of information submitted to the Indonesia Stock Exchange said the loan was handled by Credit Suisse Singapore as a facilitating agent.
"The loan facility will be used for partial payment of the bond principal of BTEL I/2007 on September 4, 2012," said the company's management.
BTEL’s management said the disbursement of the facility will be implemented after completing all requirements as stipulated in the syndicated loan agreement. More recently, the rating prospect of Bakrie Group's telecommunications subsidiary has already lowered to rating watch negative (RWN) by Fitch Ratings in the last week.
Currently, the ranking of foreign and rupiah denominated long-term debt Bakrie Telecom is still set at CCC level, after Fitch Ratings lowered it from B on February 29.
The management of the company led by Anindya Novyan Bakrie in the disclosure of information submitted to the Indonesia Stock Exchange said the loan was handled by Credit Suisse Singapore as a facilitating agent.
"The loan facility will be used for partial payment of the bond principal of BTEL I/2007 on September 4, 2012," said the company's management.
BTEL’s management said the disbursement of the facility will be implemented after completing all requirements as stipulated in the syndicated loan agreement. More recently, the rating prospect of Bakrie Group's telecommunications subsidiary has already lowered to rating watch negative (RWN) by Fitch Ratings in the last week.
Currently, the ranking of foreign and rupiah denominated long-term debt Bakrie Telecom is still set at CCC level, after Fitch Ratings lowered it from B on February 29.
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