JAKARTA. PT Erajaya Swasembada Tbk (ERAA) and its subsidiaries have obtained an extension of tenor and credit limit from PT Bank Central Asia Tbk (BBCA).

Amelia Allen, Head of Legal & Corporate Secretary of ERAA, said there are 10 companies as debtors in this credit agreement, including ERAA itself. Meanwhile, there are 9 credit facilities granted by BBCA to Erajaya Group.

The credits consist of local credits with a credit ceiling of IDR 1.67 trillion, time loan 1 facility of IDR 3.49 trillion, time loan 2 of IDR 1 trillion, time loan 3 of IDR 1.5 trillion, instalment loan 3 of IDR 50 billion, investment credit 4 of IDR 110 million, multi-facilities credit of USD 175 million and IDR 650 billion, Forex Forward Line of USD 150 million, and Seasonal Forex Forward Line of USD 50 million.

“The purpose of this transaction is to finance working capital needs of the debtors, while another purpose is related to business transactions,” Allen explained in the information disclosure in Indonesia Stock Exchange (IDX).

Allen further said that the amendment of this credit facility agreement will impose no impacts towards operational activities and business sustainability of ERAA and subsidiaries. “However, it will add into financial obligations of subsidiaries, which are in line with the performance of the company as a group,” she added.

According to IDNFinancials data, ERAA’s total liabilities as of June 2023 were recorded at IDR 13.47 trillion, while long-term bank loans that will mature in one year amounted to IDR 441.67 billion, and long-term bank loans that are due over 1 year were IDR 569.43 billion. (KR/ZH)