BOTHELL (Indonesia Today) – Borneo Resource Investments Ltd. has secured a $10 Million credit facility from PT BRIngin Srikandi Finance, a subsidiary of PT Bank Rakyat Indonesia (BRI), Indonesia’s largest banking group.
The credit facility has been provided in the form of a Letter of Indebtedness (Promissory Note), has a term of four years and bears interest at 4% per annum. ??
The company intends to use the net proceeds from the credit facility for expenses related to carrying out geological surveys and reserve estimations, strategic expansion of its concession portfolio, furthering of the coal trading business, and for working capital to support operations. (Indonesia Today)