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.
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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