JAKARTA - PT IMG Sejahtera Langgeng, a subsidiary of Indomobil Group, has received syndicated loan worth USD 450 million in order to support electric vehicle (EV) development.

In the press release quoted Thursday (6/6), Andrew Nasuri, Business Development Director of Indomobil Group, said that this syndicated loan will promote a sustainable and adequate ecosystem of electric cars,” he said.

According to Nasuri, this credit will also be used to cover other needs of the company.

Other creditors include PT Bank BTPN Tbk (BTPN) and Sumitomo Mitsui Banking Corporation (SMBC). One of the tranches from said facility is for green loan worth USD 225.8 million.

Aside from creditors, both banks will act as coordinating mandated lead arranger and bookrunner, as well as lead green loan coordinator, facility agent, guarantee agent, and bank account.

On the other hand, Nathan Christianto, Head of Wholesale, Commercial, and Transaction Banking of Bank BTPN, said that this financing is projected to extend the comprehensive financial solution for business players.

Until December 2023, BTPN has distributed green and social loans worth IDR 13.77 trillion. (LK/ZH)