JAKARTA. So far, PT Krakatau Steel Tbk (KRAS) has completed 78% of the restructuring process and the process is expected to be completed by the end of the year. This was stated by President Director of KRAS, Silmy Hakim, as quoted from Kontan, on Monday (4/11).
Total debt that needs to be restructured reaches US$ 2.2 billion.
The restructuring process including extending the tenor of the company's short-term debt to 9 years and reducing the interest rate to 1%.
Meanwhile, Silmy said, the transformation will only be felt in the first quarter of next year, since KRAS has fixed is the company's fundamentals, not just the external appearance. (AM/AR)