Glencore could support Bakries' Bumi stake - paper

LONDON (Reuters) - Commodities trading giant Glencore (GLEN.L) could come to the aid of Indonesia's Bakrie family over the financing of a loan backed by a stake in London-listed Bumi (BUMIP.L), the Sunday Telegraph reported.

A holding company for the Bakries, one of Indonesia's most politically connected families, said last week it was looking to restructure or repay a $597 million (£383 million pound) loan, part of $1.35 billion leant by Credit Suisse in March.

Bankers with knowledge of the matter said Bakrie Group (BNBR.JK) would not let go its control over Bumi, an Indonesian mining company created by Nat Rothschild in which it holds a 54.6 percent stake, despite the loan issue.

The Sunday Telegraph said, without citing sources, that Glencore was looking at providing some sort of "quasi-debt facility" to support the family but was understood not to be interested in any equity.

Analysts at Liberum said last week that although they had no detailed knowledge of the loan agreement, Glencore would be an obvious buyer of any Bakrie shares, given that it signed a share swop agreement with the Bakries last year over 4.8 percent of the company and it marketed Bumi's coal.

Both Glencore and Bumi declined to comment on the report.

(Reporting by Paul Sandle; Editing by Hans-Juergen Peters)