Indonesia’s Bakrie Family Gets Bumi Loan Default Notice, FT Says
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Indonesia’s Bakrie family received a default notice from creditors on a $437 million loan after a drop in the shares of London-listed mining company Bumi Plc that guarantee the facility, the Financial Times reported.
Lenders led by Credit Suisse Group AG probably won’t demand repayment even if the family fails to increase collateral, the FT reported, citing people familiar with the deal.