JAKARTA. PT Eratex Djaja Tbk (ERTX), a textile and garment manufacturer, has recently acquired a new banking facility from PT Bank HSBC Indonesia with a collective credit limit of USD 3.5 million.

Mandeep Singh, Director of ERTX, confirmed that said credit facility agreement had been signed by the company and HSBC Indonesia. Said agreement is posted under Agreement Letter No. JAK/211854/U/230418. “The guarantee of this facility will be a corporate guarantee by PT Ungaran Sari Garments, as well as fiduciary reserves," he added in the information disclosure.

Singh further mentioned that said credit facility will be used to reduce financial expenses of ERTX, as well as enhancing the business sustainability and development of the company.

According to IDNFinancials data, ERTX had also received another credit facility from PT UOB Indonesia with a total credit limit of USD 30 million. Similarly, this facility acquisition is intended to lower down the financial expenses of the company, as well as improving the business sustainability and development of ERTX. (KR/ZH)