JAKARTA. PT Petrindo Jaya Kreasi Tbk (CUAN) and one of its subsidiaries, PT Mareta Persada, have obtained a syndicated loan facility worth IDR 3.51 trillion from three creditors.

This credit facility is given in the form of term loan and revolving loan, with tenor set to 72 months starting from the signing of the credit agreement. The three creditors in question are PT Bank Mandiri (Persero) Tbk (BMRI), PT Bank Central Asia Tbk (BBCA), and PT Bank Negara Indonesia (Persero) Tbk (BBNI).

Michael, President Director of CUAN, said that this credit facility will be spent on general corporate needs and an acquisition of a mining company. “Among others are PT Multi Tambangjaya Utama, PT Borneo Bangun Banua Bestari, and PT Borneo Bangun Banua,” added Michael through information disclosure in Indonesia Stock Exchange (IDX).

Michael also admitted that this credit facility will increase liabilities. However, the facility is believed to be able to help the company in expanding its business sustainably.

According to IDNFinancials data, CUAN is a company recently listed on IDX on March 8, 2023. In its IPO, the company managed to rake in fresh funds of IDR 371.8 billion. (KR/ZH)