Issuer gold mine, PT Merdeka Copper Gold Tbk (MDKA) obtain financing facility of Pierfont Capital Mezzanine Fund Pte Ltd on September 5, 2016.
Company Secretary Merdeka Copper Gold, Ellie Turjandi said that the facility was achieved by USD25 million consisting of $ 10 million to finance the excess facilities charges and USD15 million to USD15 million fund to finance the development of the company’s projects porphyry report.
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This loan will be for 48 months from the date of first disbursement is done. These loans provide a guarantee of the Company shares and other assets that existed at the Merdeka Mining Partners Pte as pledgor.
The lending rate is based on a percentage margin of 6.75 percent per year mined by calculating LIBOR and minimum rate of return of 9 per cent per annum of the principal amount of the loan.
This loan, said Ellie will be used to finance seven projects Bikit which is the main business activity of PT Bumi Suksesindo as a subsidiary of the company.