JAKARTA - PT Adira Dinamika Multifinance Tbk (ADMF) has signed a syndicated loan agreement worth USD 300 million or equivalent to IDR 4.73 trillion, using the currency exchange rate of IDR 15,775 per USD.

This jumbo loan was received by ADMF from a syndicate of multinational banks, consisting of CTBC, DBS, Maybank, MUFG, and UOB Bank. This agreement was signed last Thursday, February 1, 2024, in Singapore.

In addition, there are several fees related to the loan, including facility agent fee of USD 20 thousand per year, to be paid throughout the facility period of 3 years, as well as other bank fees of USD 367,500.

“The transaction was completed to support the Company's asset growth, in line with the expansion of automotive and non-automotive financing,” the management of ADMF said in the information disclosure today (2/2).

It is expected that with this loan, Adira Finance will be able to raise the number of users and enhance its market share in financial activities.

It is worth mentioning that Adira Finance is controlled by MUFG Bank Ltd through PT Bank Danamon Indonesia Tbk (BDMN), which claims 92.07% of ADMF’s shares.

Therefore, this transaction is classified as an affiliate transaction. Furthermore, it is also a material transaction according to POJK No.17/2020 as the transaction value exceeds 20% of the equity of BDMN.

Until the end of September 2023, ADMF’s total equity was recorded at IDR 10.58 trillion. (ZH)