JAKARTA. PT United Tractors Tbk (UNTR) has increased the loan interest rate and extended the funds’ availability period for facilities granted to its subsidiaries.

Sara K. Loebis, Corporate Secretary of UNTR, said that the raised interest rate and extended period of funds’ availability are applied to subsidiary loans given to PT United Tractors Pandu Engineering (UTPE), PT Patria Maritim Perkasa (PMP), and PT Patria Maritime Lines (PML). The three are subsidiaries owned by the company.

The interest rate of shareholder loan by UNTR to UTPE rises to JIBOR + 1.25% per annum (p.a.) and Term SOFR + 0.8% p.a. from the previous JIBOR + 0.5% p.a. and LIBOR + 0.1% p.a. However, UTPE is also granted extended facility from April 1, 2023, until April 1, 2024.

In addition, UNTR also raised interest rate of loan channelled to PMP to JIBOR + 1.25% p.a. from JIBOR + 0.5% p.a. The funds’ availability for PMP is also extended from April 1, 2023, to April 1, 2024.

Lastly, PML’s loan’s interest rate is increased to JIBOR + 1.85% p.a. for the facility agreement dated July 18, 2017, and May 29, 2019. Those two facilities will also be extended from April 1, 2023, to April 1, 2024.

According to IDNFinancials data, UNTR had previously raised its subsidiary loan’s interest rate to PT Bina Pertiwi (BP). On top of the raised rate, the company also grants the extended availability period of the facility for BP and extended facility limit. (KR/ZH)