Bank Mandiri to provide Rp 500.89 credit facility to PT Nusantara for supporting the latter’s business activities

Indonesia’s Bank Mandiri will be providing a credit facility worth Rp 500.89 trillion (with a loan tenor of one year) to PT Nusantara Regas to support the company’s business activities. Nusantara Regas–a JV of state-owned oil and gas company PT Pertamina, and gas distributor PT Perusahaan Gas Negara–recently commenced operations at its floating storage and regasification unit (FSRU) located in the JavabayofWest Java. The company will also be using the credit facility to fund operations at this FSRU. Earlier, in March 2011, Bank Mandiri offered a $100 million non-cash loan to the company; as of now, about 85 per cent of this loan has been disbursed.