Bakrie asks for time to find loan solution

Indonesia’s Bakrie & Brothers is in negotiations with its lenders about paying back a $1.345bn bridge loan, after shares backing the deal plummeted earlier this month. The company could turn to industry rivals for funding — and it looks likely to get some breathing room from its lender before being forced to pay back the cash.

  • 13 Oct 2011

Bakrie & Brothers and related company Long Haul Holdings took out the loan in March, offering lenders security in the form of shares in Bumi plc,

a London-listed vehicle which owns big stakes in two Bakrie companies, Bumi Resources and Berau Coal. But those shares have recently dropped ...

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1 Citi 7,171 21 10.72
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3 JP Morgan 4,776 10 7.14
4 Credit Suisse 4,718 9 7.05
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4 Citi 56,521.05 165 9.38%
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