JAKARTA – Two subsidiaries of PT Medco Energi Internasional Tbk (MEDC) have reportedly obtained revolving loan worth USD 420 million that will mature on December 31, 2028. The guarantor for this facility is MEDC itself.

In the information disclosure quoted Monday (15/5), Siendy K. Wisandana, Corporate Secretary of MEDC, said that the subsidiaries in question are PT Medco E&P Malaka (MEP Malaka) and PT Medco E&P Tomori Sulawesi (MEP Tomori). The facility was signed on December 23, 2022.

The loan is an amendment and a restatement from the previous Senior Secured Term Facility Agreement worth USD 500 million that was initially signed on October 19, 2018.

The creditors are Australia and New Zealand Banking Group Limited, ING Bank NV Singapore Branch, and Societe Generale, Singapore Branch, which also acts as mandated lead arrangers and bookrunners. On top of those, there were also PT Bank DBS Indonesia, PT Bank Mandiri (Persero) Tbk (BMRI), Singapore Branch, PT Bank ANZ Indonesia, MUFG Bank Ltd, Credit Agricole Corporate and Investment Bank, and PT Bank UOB Indonesia.

The guarantee submitted by MEDC are pledge of 247,500 units of shares, pledge of 24.98 million shares, pledge of 2,500 shares, pledge of 12,500 shares, as well as the transfer of onshore account of MEP Malaka and MEP Tomori, and the fiduciary guarantee of its receivables worth USD 625 million. (LK/ZH)