JAKARTA. PT Bank UOB Indonesia has granted extra credit ceiling for three subsidiaries of PT Sarana Menara Nusantara Tbk (TOWR).

These three subsidiaries in question are PT Profesional Telekomunikasi Indonesia (Protelindo) PT Iforte Solusi Infotek (Iforte), and PT Komet Infra Nusantara (KIN). They have reportedly signed the amendment of credit agreement with Bank UOB Indonesia.

With this amendment, Bank UOB Indonesia agreed upon granting revolving loan facility and bank guarantee to TOWR’s subsidiaries. The value of the commitment given to Protelindo and Iforte does not exceed IDR 1.3 trillion each, whereas KIN will not receive above IDR 500 billion.

The bank guarantee facility given to Protelindo and Iforte is IDR 500 billion each, and another IDR 300 billion goes to KIN.

Monalisa Irawan, Corporate Secretary of TOWR, said that this revolving loan facility will be used as working capital for Protelindo. Then, the bank guarantee facility is intended to fund contracts or projects.

For the record, both credit facilities will mature on February 23, 2024. (KR/ZH)