The loan is pegged to the Secured Overnight Financing Rate plus 3.25%, which works out to around 8.5% now based on current rates.
Geo Energy Resources has received US$220 million in term loan facilities from Bank Mandiri to help fund acquisitions so that it can double down on the coal industry.
The plans to secure the facilities, which will mature in five years, were first announced back in July 26 after a binding term sheet was signed.
