According to Business Times Singapore the loan was the largest of its kind for an Indonesian company in nearly seven years.
The loan, lead by Credit Suisse First Boston, will be used to refinance an existing loan.
KPC president Ari S Hudaya said coal prices had increased from about US$23 per tonne last year to US$31 per tonne this year. Over this period, the company's production had increased by 50%, prompting an increase in earnings from US$8 million to US$80 million, Business Times Singapore reported.
Indonesia has been tipped to the country with the capabilities to respond to surging demand for coal. According to a recent ABARE report, Indonesia is expected to increase exports by 13% to 87 million tonnes in 2004.
