JAKARTA. PT Buana Finance Tbk (BBLD), a financing venture circa 1982, has recently obtained a credit facility of IDR 150 billion.

The credit facility is secured from PT Bank KEB Hana Indonesia. “Said loan facility will be channelled to the working capital of the company, including funding the consumer financing distribution,” Ahmad Khaetami, Corporate Secretary of BBLD, announced.

The tenor agreed by BBLD and Bank KEB Hana Indonesia is 36 months. However, the interest rate exercised by KEB Hana Indonesia for the loan is not publicly disclosed.

“The term loan facility will be guaranteed with the company’s receivables,” Khaetami added.

According to IDNFinancials data, BBLD recorded a finance lease receivables of IDR 977.63 billion as of September 30, 2022. Then, its consumer financing receivables clocked up to IDR 2.75 trillion.

PT Sari Dasa Karsa was listed as the controller of 67.60% of BBLD’s shares until September 30, 2022. Meanwhile, the remaining 32.40% belonged to the public. (KR/ZH)