Newmont secures $600m from 16 banks

A syndication of 16 banks provides US$600 million loan to finance capital expenditure and working capital of copper and gold miner PT Newmont Nusa Tenggara (PTNNT).

Bank Mandiri, BNP Paribas, and Sumitomo Mitsui Banking Corporation (SMBC) were acted as Original Mandated Lead Arrangers (OMLA) and Book Runners for the loan which has 5 years tenor.

Bank Mandiri contributes $200 million, followed by BNP Paribas ($125 million), and SMBC ($75 million). Bank Mandiri also acted as Onshore Security Agent and Onshore USD/IDR Account Bank.

Besides the banks mentioned above, 13 other banks participated in the syndicated loan are Credit Agricole and Investment Bank, ING Bank, PT Bank Sumitomo MitsuiIndonesia, Commonwealth Bank of Australia, Caterpillar Financial Australia Limited, PT bank BNP Paribas Indonesian, BNI, Societe Generale Asia, Aoyora Bank, NATIXIS, Goldman Sachs Lending Partners, UBS AG, dan PT Bank Commonwealth.

The credit facility will be used for the phase-6 of mining operation activity in its Batu Hijau mine, President Director Martiono Hadianto said, adding that phase six will be implemented next year. (giok)