JAKARTA. PT Medco Energi Internasional Tbk (MEDC) has signed a credit agreement with one of its subsidiaries, PT Mitra Energi Gas Sumatera (MEGS).

Siendy K. Wisandana, Corporate Secretary of MEDC, confirmed that the company has secured a facility worth USD 5.5 million from MEGS. “It will be available until December 31, 2026,” she added in the information disclosure in Indonesia Stock Exchange (IDX).

Furthermore, Wisandana mentioned that this facility will pose no material impact on the company. “There is no impact of such material information or fact to the company’s operational activities, legal aspect, financial condition, or business sustainability,” she stated.

The interest applied to MEDC regarding this loan facility is not disclosed. However, according to IDNFinancials data, MEDC recorded sufficient amount of cash, totalling USD 547 million as of March 31, 2023.

A couple of days ago, MEDC was also reported having secured a Term Loan II facility from PT Bank Mandiri (Persero) Tbk (BMRI). This facility amounts to IDR 5.25 trillion and is due for repayment in June 2028. (KR/ZH)