JAKARTA - PT Trimegah Bangun Persada Tbk (NCKL) will pay off a total loan of USD 150 million to Oversea-Chinese Banking Corporation Limited (OCBC) and PT Bank OCBC NISP Tbk (NSIP). The loan was utilised for working capital, capital expenditure, transaction fees, and other expenditures.

Based on the short prospectus quoted Monday (10/4), said loan was secured on January 16, 2023, and is due for repayment on January 16, 2025. The interest rate for this loan was set to 3% per annum by OCBC, and 3.25% per annum by NISP.

The fund source for this debt pay-off came from the proceeds of the initial public offering (IPO) of NCKL. The IPO put out 7.99 billion shares to the public for IDR 1,250 per share. In this corporate action taking place last week (5-10/4), NCKL targeted to raise IDR 9.99 trillion. In other words, the loan repayment will take up 23.6% of the total IPO proceeds.

Then, 50.4% of the proceeds will be channelled as investment and loans, leaving another 17.4% to pay back loans to two of its subsidiaries, 3.3% to the capital expenditure, and 3.5% to the working capital. (LK/ZH)