JAKARTA. PT Satria Antaran Prima Tbk (SAPX) has obtained a loan facility with a total amount of IDR 50 billion from PT Bank BTPN Tbk (BTPN).

Budiyanto Darmastono, President Director of SAPX, said that the company received 2 loan facilities from BTPN. The first is the Revolving Credit Facility (RCF) and the second is the Account Receivable Financing Facility (ARF), each with a loan value of IDR 25 billion.

The RCF loan received by SAPX bears interest from 7.22 to 7.5% per year. While ARF loans bear interest from 7 to 7.25% per year. The tenor of each loan facility is 1 year.

"The company's step in receiving loans from this bank has been approved by the 2nd and 2nd agenda of the Extraordinary General Meeting of Shareholders (EGMS) on the Company's EGMS on 1 February 2023," said Darmastono, via an official statement received by idnfinancials.com.

Please note, the acquisition of the SAPX credit facility is included in the category of material transactions as regulated by the Financial Services Authority (OJK). The reason is that the transaction value exceeds 20% of SAPX's total equity, which is currently IDR 181.24 billion. (KR/LM)