JAKARTA - Bayan Resources Tbk (BYAN) succeeded in obtaining a loan facility worth US$ 125 million from PT Bank Mega Tbk (MEGA). The loan agreement was signed on December 13, 2024. 

This loan takes the form of a demand loan credit facility with a sublimit for a bank guarantee or standby letter of credit worth a maximum of US$ 100 million, as well as a bank guarantee/standby letter of credit facility worth US$ 25 million. 

This credit facility has a term of 36 months from the date the agreement is signed. Funds from the loan will be used to finance working capital and support the company's operational activities, including a number of its subsidiaries. 

As part of the agreement, this banking facility is guaranteed by a corporate guarantee from Bara Tabang, a subsidiary of Bayan Resources. 

Director of Bayan Resources, Jenny Quantero, said, "With this loan, the company has a better opportunity to increase the allocation of funds to finance operational activities and subsidiaries." (DK/MT/LM)