credit-suisse-to-arrange-16-billion-loan-for-bumi-mines-purchase

Credit Suisse to arrange $1.6 billion loan for Bumi mines purchase

Renaissance Capital asks the market to dig in and help it finance its purchase of Bumi Resources premiere mines.
May 25, 2006
Indonesian investment company PT Renaissance Capital announced Thursday May 25 that it is seeking a $1.6 billion term loan to help fund the purchase of two coal mines from mining group Bumi Resources.

In March, Renaissance Capital, which describes itself as an Indonesian strategic investment house that actively advises, manages and invests in turnaround and high growth business opportunities in Indonesia, agreed to buy the coal assets of Bumi, including 95% of Kaltim Prima Coal KPC, 100% of Arutmin Indonesia Arutmin, and 100% of IndoCoal Resources Cayman for $3.2 billion.

The loans are broken down into two parts. The first is a $1 billion loan with a five-year maturity and the...
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