JAKARTA – PT Sintesa Bara Gemilang (SBG), a subsidiary of  PT Astrindo Nusantara Infrastruktur Tbk (BIPI) has obtained a credit facility from a syndicate of financial institutions of USD 432.77 million. Using the mid-exchange rate of Bank Indonesia (BI) of IDR 15,120 per USD, the credit amount is equal to IDR 6.54 trillion.

Kurniawati Budiman, Corporate Secretary of Astrindo Nusantara Infrastruktur, mentioned that said loan facility is intended to fund the acquisition of PTT Mining Limited. “The company itself has guaranteed the payment obligation of SBG,” Budiman added in the press release quoted Tuesday (14/2).

This facility will be available for five years starting from when the agreement was signed last week (9/2). The acquisition of this mining company will enrich its portfolio.

The corporate guarantee had also been approved during the Extraordinary General Shareholders Meeting on October 18, 2022. Until September 2022, BIPI’s assets reportedly reached USD 1.13 billion, growing from USD 953.52 million seen in 2021. (LK/ZH)