Indonesia's Bakrie signs $76 million restructuring agreement

PT Bakrie Sumatra Plantation JSXUNSP had reportedly signed an agreement with its foreign creditors on the restructuring of $76 million debt whereby Bakrie could extend its payment of the principal debt for three years, with an interest rate of 3.5 percentage points above the Singapore Inter-Bank Offered Rates SIBOR.

The debt consists of $73 million in syndicated loans managed by Credit Suisse First Boston and $3 million trade financing provided by Credit Lyonnais.

Bakrie will pay the...

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