August 5, 2019 / 8:41 AM / 3 months ago

Indonesia's Pertamina gets $1.85 bln syndicated loan led by Japan's MUFG

JAKARTA, Aug 5 (Reuters) -

* Indonesia’s state energy firm Pertamina has secured a $1.85 billion financing for its Jambaran-Tiung Biru natural gas project from a consortium of 12 banks led by Japanese lender Mitsubishi UFJ Financial Group (MUFG), Pertamina and MUFG said in separate statements

* The deal, among the largest project financing by Pertamina, was unique because it included Islamic project finance facilities under trustee borrowing schemes, MUFG said on Monday

* The conventional and Islamic tranches each has project finance facilities with 10- and 15-year tenors, the Japanese lender said

* The gas project has a production capacity of 192 million standard cubic feet per day (mmscfd), while the Jambaran-Tiung Biru field has 2.5 trillion cubic feet in reserves, Pertamina said late Friday

* The project is estimated to start production in 2021, the Indonesian state energy firm added (Reporting by Wilda Asmarini and Gayatri Suroyo, Editing by Sherry Jacob-Phillips)

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