Enercoal resources obtains $200 million loan

Jakarta (Antara News) - Enercoal Resources said on Wednesday it has obtained a US$200 million loan from the Credit Suisse`s branch in Singapore.

The loan may increase but the rise would not be more than $100 million, Bumi Resources Finance Director Eddie J Soebari said in a report to the Jakarta Stock Exchange (JSX).

Enercoal is a subsidiary of Bumi Resources which also acts as underwriter for the loan.

He said Enercoal signed a credit agreement with Credit Suisse on October 10, 2006.

Enercoal will use the loan as credits to other companies belonging to the Bumi Resource group among others to strengthen their working capital.

"Based on the credit agreement the loan will be payable on October 6, 2008," he said. (*)
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