JAKARTA. PT Merdeka Battery Minerals Tbk (MBMA), a nickel mining company under PT Merdeka Copper Gold Tbk (MDKA), has channelled loan facility worth USD 28.05 million to one of its subsidiaries, PT Merdeka Industri Anantha (MIA).

Said facility is given with an interest of SOFR (Secured Overnight Financing Rate) for each period, plus 4.75% per year. The tenor of this facility is set to 3 months since the effective date, and is extendable according to the written agreement between both parties.

“The purpose of this affiliate transaction is so that MIA may utilise it for general corporate needs of MIA. The affiliation transaction will become more efficient is it is carried out between the company and MIA,” said the management of MBMA, through the information disclosure in Indonesia Stock Exchange (IDX).

According to IDNFinancials, MBMA was listed after conducting its initial public offering (IPO) on April 18, 2023. In said IPO, the company managed to raise IDR 8.75 trillion of fresh funds. (KR/ZH)