BRMS – IDR2 tn loan for refinancing & gold projects

BRMS – IDR2 tn loan for refinancing & gold projects Bumi Resources Minerals (BRMS) secured a IDR2 tn loan facility from a Bank Mega consortium. The 12-month facility carries a 9.75% annual interest and will be used to refinance a USD75 mn (~IDR1.2 tn) loan, fund Palu underground gold project construction, and support Gorontalo exploration. (Source : Company) Comment : BRMS’s new loan lifts total debt to USD226.5 mn, raising D/E to 22.8% (24A: 10.3%) and Net Gearing to 21.6% (24A: 9.1%), still moderate for an expanding miner.