JAKARTA. PT Sariguna Primatirta Tbk (CLEO), a bottled water company (AMDK), has obtained an additional credit facility with a total value of IDR 300 billion from PT Bank Negara Indonesia (Persero) Tbk (BBNI).

Lukas Setio Wongso Wong, Corporate Secretary of CLEO, said that his party had signed an additional credit facility agreement with BBNI last week. Under the agreement, CLEO obtained an additional working capital credit facility of IDR 100 billion and a Term Loan of IDR 200 billion.

"The purpose of the transaction is for industrial working capital facilities and for business expansion, including the addition of the company's capex," said Wong, in his official statement.

For the record, the additional time for the working capital credit facility is given for 12 months from the date of signing the credit agreement. Meanwhile, additional term loan facilities are provided with a tenor of 84 months.

Some of CLEO's immovable fixed assets are used as collateral in the credit agreement. Wong admitted that the additional credit facility would directly support the company's business development.

"This transaction does not include material transactions that require an appraiser and obtain approval from the General Meeting of Shareholders (GMS)," said Wong. (KR/LM)