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Bumi Resources has repaid 50% of its Tranche A debt

21 October 2019 05:04

JAKARTA. PT Bumi Resources Tbk (BUMI) has paid US$ 302.2 million, or around 50% of its total tranche A debt of US $ 600 million.

This was reached after BUMI paid the seventh instalment of US$ 31.8 million. This value consists of payment of the principal of US$ 23.2 million and interest of US$ 8.6 million.

With this development, BUMI management predicts that the repayment of Tranche A will be completed in 2021, while for Tranche B, it is estimated to be completed in October 2022. Tranche B has the same value as Tranche A.

Meanwhile, tranche C for separatist creditors has a total value of US$ 406.99 million. All three are part of the company's 2017 debt restructuring.

"At present, we are preparing the eighth instalment that will due on 8 January 2020," Director of BUMI, Dileep Srivastava was quoted as saying by KONTAN on Tuesday (15/10). Management is also currently capitalizing on coupons of Tranche B and C.

Dileep has not been able to specify how much the next instalment value is, since it is determined based on a number of factors such as sales volume, prices and others. (AM/AR)

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