TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Medco to refinance debts, issue Singapore-dollar notes
Oil and gas company Medco Energi Internasional is looking to refinance its US$140 million maturing debts through bank loans this year and is looking to issue up to S$500 million ($370
Change Size
O
il and gas company Medco Energi Internasional is looking to refinance its US$140 million maturing debts through bank loans this year and is looking to issue up to S$500 million ($370.64 million) in medium-term notes for alternative future refinancing for outstanding debts.
The publicly listed firm's finance director, Lany Wong, said on Monday that her company had paid up $40 million of its $183.7 million debts that were due this year. Around $180 million of which was granted by state-run Bank Negara Indonesia (BNI).
The sum of the money used to refinance the debt came from a $1.5 billion loan facility the company secured last year to help fund its liquefied natural gas (LNG) project.
That leaves the company with $143.7 million in debts maturing in July this year. Lany said that the company might resort to new bank loans to pay up the remainder.
'We will refinance the debts through bank loans, probably from local lenders,' she said, declining to disclose the potential lenders. (ren)(++++)
