Energi Mega Persada Secures Refinancing and Development Funding
PT Energi Mega Persada Tbk has affirmed its merger intention with Bumi Resources Tbk and has secured US $152.75 million in development and refinancing funding for the recently acquired THP assets.
Chris Newton, President Director, said "that a merger with Bumi would create a diversified natural resources company. Our research indicates that a diversified company would be highly rated by the market and that our shareholders would benefit from the plan. The fact that Bumi is not immediately divesting all its coal business does not reduce the attractiveness of a merger."
Mr. Newton went on to say that "the merger will be confirmed in accordance with the procedures and timing in compliance with Indonesian Capital Market Regulations.
Mr. Newton went further to say that on August 23, 2006 ENRG secured a loan of US $152.75 million earmarked primarily for the asset development at the Semberah TAC, the Gelam TAC, the Gebang JOB, the Korinci Baru PSC, and the Bentu PSC. Some 30% of the facility will be used to refinance an existing facility relating to the PSC's.
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- Indonesia's Energi Mega to Refinance $170M Loan, Considers Acquisitions (Dec 05)
- PT Energi Mega Persada Commences First Gas at Kuat Field in Sumatra (Jul 16)
Company: PT Bumi Resources more info
- Energi Mega Persada Secures Refinancing and Development Funding (Aug 28)
- Energi Mega Persada and Bumi Resources Make Merger Plans (Jun 15)