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BUMI confirms US$239.39m payment for Tranche A
With the latest payment, the company has paid off a total of $239.39 million.
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Bakrie Tower, which houses the head office of Bumi Resources. (AFP/Romeo Gacad)
M
ining company PT BUMI Resources has confirmed that it processed on Tuesday a fifth payment of US$19.85 million -- $11.11 million in principal and $8.74 million in interest – against Tranche A, a debt restructuring instrument.
BUMI director and corporate secretary Dileep Srivastava said with the latest payment, the company had paid off a total of $239.39 million consisting of US$145.48 million for Tranche A principal and US$93.91 million for interest, including accrued and back interest.
“The next quarterly payment for Tranche A is due on July 19,” Srivastava said in a statement received by The Jakarta Post on Wednesday.
Kontan.co.id recorded that in 2016, BUMI and a number of creditors agreed to pay the company’s debt through the conversion of shares worth $1.99 billion, consisting of Tranche A and B, respectively $600 million, while Tranche C was worth $406.99 million, for separate creditors.
Srivastava said payment-in-kind coupons from April 11, 2018 to April 9, 2019 on Tranches B and C were also being capitalized. (bbn)
