Buma pulls off rapid loan refi at 100bp inside shorter deal

Indonesia’s Bukit Makmur Mandiri Utama (Buma) has refinanced a $600m loan that it agreed just six months ago and has pushed its lenders to increase the deal to $800m. At the same time it has shaved 100bp off the margin and extended the maturity to seven years.

  • 19 May 2011
The borrower approached existing lenders and relationship banks with the refinancing at the end of March, after private equity house TPG, Government of Singapore Investment Corp and China Investment Corp bought a stake in a company that indirectly owns Buma. The new investors improved Buma’s creditworthiness, allowing it ...

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