BUMA has made principal and interest payments under the Facilities on a timely basis and without any disruption or delay since its receipt of these Facilities in 2011. BUMA and its lenders under the Facilities have entered into the amendments in response to the downturn in the coal industry. The Facilities maturities and average lives were extended and covenants amended to enhance:
Lenders under the amended Syndicated Facility include Aozora Bank Ltd., CIMB Bank Berhad-Singapore Branch, Credit Agricole Corporate and Investment Bank, Indonesia Exim Bank-Jakarta, ING Bank N.V.-Singapore Branch, Intesa Sanpaolo S.p.A.-Hong Kong Branch, PT. Bank DKI, PT. Bank Mandiri (Persero) Tbk, PT. Bank Mizuho Indonesia, Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Ltd., and The Hongkong and Shanghai Banking Corporation Limited-Jakarta Branch.
As reported previously, Delta recorded a net profit of US$11mn in 1H 2014, compared to a net loss of US$6mn in 1H 2013, on the back of 6% YoY increase in EBITDA to US$91mn.
DOID and BUMA are satisfied with the completion of the amendments. These; together with its better performance in 1H 2014 provide BUMA with the platform to face the current challenges in the industry, and to pursue improvements in operations, performance and stakeholder values.