BUMI to Pay US$ 22 Million Debt Settlement in October

By Editorial Team 30/08/2019
Summary

PT Bumi Resources Tbk (BUMI) will settle a US$ 22 million debt in October 2019. The debt is part of Tranchea A loan facility due this October. So far, BUMI has paid around US$ 168 million of total Tranchea A principal. Added with US$ 102.4 million of interest, the company has settled around US$ 270.4 million.

BUMI Director Andrew C. Beckham said the company would pay another US$ 22 million of debt in October. Had BUMI paid around US$ 250 million per January 2020, it would mean that the company has settled around 42 percent of US$ 595.5 million of Tranche A loan. According to Andrew, the fund came from the sub-holdings’, PT Arutmin Indonesia and PT Kaltim Prima Coal (KPC), treasuries. BUMI allocate US$ 180-US$ 230 million worth of free cash flow for refinancing. Hopefully, the budget would be enough to settle all of Tranche A loans before January 2021.

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