JAKARTA. PT Bekasi Fajar Industrial Estate Tbk (BEST), an industrial zone developer, has signed a new credit facility with PT Bank Mandiri (Persero) Tbk (BMRI).

In said credit agreement, BEST is said to receive a credit facility with a limit of up to IDR 1.47 trillion. “The purpose of loan utilisation is to pay off a syndicated loan in United States Dollar (USD) and another syndicated facility in Japanese Yen (JPY),” Herdian, Corporate Secretary of BEST, revealed.

The credit term agreed between BEST and BMRI is 84 months, while the interest rate per annum charged upon said credit facility is 7.75% for 2 years, as well as 3-month JIBOR plus fixed margin in its third year.

Herdian claimed that the credit facility from BMRI will enhance BEST’s financial condition, which, in turn, will generate positive impacts towards business expansion.

According to IDNFinancials data, BEST received a syndicated loan on July 22, 2022. In said facility, the company, along with its subsidiaries, were granted facility of USD 90 million. The bank syndicate consists of PT Bank Permata Tbk (BNLI), Indonesia Eximbank, BMRI, PT Indonesia Infrastructure Finance, and PT Bank JTrust Indonesia Tbk (BCIC). (KR/ZH)