JAKARTA. PT Buana Finance Tbk (BBLD), a finance company listed on the Indonesia Stock Exchange (IDX) since 1990, has obtained a credit facility from PT Bank Victoria International Tbk (BVIC).

Ahmad Khaetami, Corporate Secretary of BBLD, said that the signing of the credit facility agreement was carried out on 28 February 2023. In the agreement, the company obtained a term loan facility worth IDR 150 billion with a tenor of 48 months.

"The loan facility will be used for the company's working capital needs, namely providing consumer finance loans," said Khaetami, in his official statement.

Khaetami did not mention how much was the interest BVIC charged for the credit facility. However, he said that the term loan facility is guaranteed by the company's receivables.

According to data from idnfinancials.com, BBLD has consumer financing receivables of IDR 2.75 trillion as of 30 September 2022. Meanwhile, the company's total assets are IDR 4.29 trillion and total equity is IDR 1.28 trillion. (KR/LM)