(Adds BNI comment)
JAKARTA, April 7 An Indonesian group has
obtained a $750 million loan from two state-owned banks to help
finance its purchase of a controlling stake in Newmont Mining
Corp’s Indonesian operations, Basis Point reported on
Prominent Indonesian businessman Arifin Panigoro, a key
member of the investor group and a founder of Jakarta-listed oil
and gas firm PT Medco Energi Internasional Tbk, told
reporters on Tuesday that the purchase of the stake in Newmont
Nusa Tenggara was due to be announced this week.
The two-year loan, which is split between PT Bank Mandiri
Tbk and PT Bank Negara Indonesia Tbk (BNI),
was signed last week, reported Basis Point, a Thomson Reuters
publication, citing people familiar with the matter.
The loan was priced at more than 500 basis points above the
London Interbank Offered Rate (Libor), said one source, who
declined to be identified as he was not authorized to speak to
BNI Corporate Secretary Suhardi Petrus said the bank was
still in the process of evaluating the consortium’s loan request
and he declined to disclose the size.
Panigoro also declined to disclose the value of the deal on
Tuesday, though people familiar with the matter said it could be
worth about $2 billion and will involve debt and equity.
A spokesman for Bank Mandiri declined to comment on the
loan, while Medco Energi did not provide immediate comment.
Owners of Newmont Nusa Tenggara, which operates Indonesia’s
second-biggest copper and gold mine, include New York-listed
Newmont, Japan’s Sumitomo Corp and Jakarta-listed Bumi
Resources Minerals, which is part of the Bakrie Group.
($1 = 13,155.00 rupiah)
(Reporting by Chienmi Wong and Prakash Chakravarti of LPC in
Hong Kong and Eveline Danubrata in Jakarta; additional reporting
by Fergus Jensen; editing by David Clarke)
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