Golden Energy secures A$150m loan facilities

Singapore

INDONESIAN coal producer Golden Energy and Resources (Gear) has secured term loan facilities of up to A$150 million (S$145.15 million) from lender Credit Suisse, mainly to finance its acquisition of shares in Stanmore Coal, said the firm late on Monday.

The term loan facilities are secured by a share pledge in favour of PT Bank CIMB Niaga over certain shares Gear owns in PT Golden Energy Mines (GEMS), and a guarantee and indemnity agreement granted by PT Hutan Rindang Banua in favour of Credit Suisse.