Geo Energy bags $354.55m loan for refinancing, acquisitions

The company aims to boost the production capacity of the TRA coal mine.

Geo Energy has secured term loan facilities worth $354.55m (US$275m) from Bank Mandiri for the refinancing of its existing loan facilities and proposed acquisitions.

The company aims to boost the production capacity of the TRA coal mine to up to 25 million tonnes per annum over the next couple of years.

About $258m (US$200m) will be used for refinancing the existing loan, and around $70.9m (US$55m) will be used to expand its TRA coal mine.

Finally, about $25.8m (US$20m) will be used for the group’s proposed strategic acquisition of the established shipping companies.

($1=US$0.77)

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