JAKARTA. A subsidiary of PT Indika Energy Tbk (INDY) has signed a credit facility agreement worth USD 50 million with PT Bank DBS Indonesia (DBS).

Adi Pramono, Corporate Secretary of INDY, mentioned that this credit facility will be received by PT Kariangau Gapura Terminal Energi (KGTE). This credit facility agreement has a tenor of 3 years and 6 months, starting from the signing of the facility agreement on September 20, 2023.

Moreover, PT Interport Mandiri Utama (IMU), another subsidiary of INDY, has reportedly signed a corporate guarantee agreement with DBS. For this agreement, IMU has granted a corporate guarantee to KGTE for the recently received credit facility.

“This transaction has no material impact, but will enhance the financial liquidity of the company,” Pramono said in the information disclosure in Indonesia Stock Exchange (IDX).

According to IDNFinancials data, INDY recorded cash and cash equivalent of USD 677.21 million as of June 30, 2023. The total assets of the company reportedly reached USD 3.06 billion, while its total equity hit USD 1.35 billion. (KR/ZH)