JAKARTA. PT VKTR Teknologi Mobilitas Tbk (VKTR), an electric vehicle (EV) provider company under Bakrie Group, has obtained a credit facility worth IDR 250 billion from PT Bank Central Asia Tbk (BBCA) or BCA.

A. Syarif Kadir, Corporate Secretary of VKTR, said that this credit facility had been signed by the company on August 14, 2023. This facility is charged with an interest of 9.25% per annum and will be available for the next 12 years.

“The transaction will directly support business expansion of the company and will not negatively affect operational activities and sustainability of the company,” Kadir said in the official statement.

In the credit agreement, VKTR submit several of its own assets and its subsidiaries’ as guarantee. They include land and building owned by PT Bakrie Autoparts in Bekasi, pieces of machine owned by Bakrie Autoparts, and inventories of the company.

In addition to those, the company is also granted a corporate guarantee from PT Bakrie & Brothers Tbk (BNBR). For the record, BNBR is the controlling shareholder of VKTR with ownership portion of 45.55%.

According to IDNFinancials data, VKTR was freshly listed on Indonesia Stock Exchange (IDX) on June 19, 2023. In its IPO, it issued 8.75 billion shares and gained IDR 875 billion of fresh funds in return. (KR/ZH)