JAKARTA. A subsidiary of PT Austindo Nusantara Jaya Tbk (ANJT), PT Austindo Nusantara Jaya Agri (ANJA), has obtained a loan from its affiliate with a low interest.

The loan facility received by ANJA amounts to USD 10 million. This facility is given by PT Kayung Agro Lestari (KAL), also a subsidiary of ANJT.

Regarding this loan facility, ANJA is charged with an interest of 1-month term SOFR + 1.63% per annum for loans in US dollars. Then, for a loan in Indonesian Rupiah, ANJA is charged with an interest rate of 8.13% per annum.

"The purpose of the loan is to fund operational activities and working capital," Naga Waskita, Director of ANJT, added.

The credit facility received by ANJA will be available for withdrawal for one year, until July 24, 2024. However, this facility will be automatically extended for the next year.

According to the Financial Services Authority (OJK), the base interest rate for corporate credits by conventional banks in May 2023 was above 5%. (KR/ZH)