JAKARTA - PT Multi Medika Internasional Tbk (MMIX) secures an invoice financing facility worth IDR 50 billion from PT Bank Aladin Syariah Tbk (BANK).

In the information disclosure quoted Monday (22/5), Eveline N. Susanto, Director of Finance of MMIX, mentioned that the facility tenor is 12 months, starting from when the line facility agreement was signed yesterday (13/5). "The guarantee is cash collateral worth 5% of the financing limit or minimum IDR 2.5 billion," she added.

Another collaterals includes user receivables with total billings of 115% of the total facility limit. The transaction value is equal to 28.75% of the total equity of the company in March 2023.

Said facility will be utilised for MMIX's working capital, paying for Purchase Orders (PO) of PT Sumber Alfaria Trijaya Tbk (AMRT), PT Midi Utama Indonesia Tbk (MIDI), and PT Indomarco Prisma Jaya (Indomaret). (LK/ZH)