JAKARTA: PT Bakrie & Brothers Tbk, parent of Bakrie Group, is urgently looking for US$100 million until the end of this week to increase loan collateral US$437 million.
As cited in Bloomberg, loan collateral fell 1.2 times on April 20 whereas according to initial agreement, it should be more than1.54 times.
The US$437 loan facility is secured by the BNBR-coded company share ownership in Bumi Plc which price decrease 29% last month and then fell to the lowest level early this week to 496.50 pence. (T05/aph)
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