JAKARTA. A gas company, PT Samator Indo Gas Tbk (AGII) acquires a syndicated loan from 4 banks worth IDR 4.6 trillion. This loan is set to a tenor of 84 month or 7 years, and consists of 4 types of facilities that will be used for refinancing and business expansion.

In the information disclosure in Indonesia Stock Exchange (IDX) today (20/12), Corporate Secretary of AGII, Imelda Mulyani Harsono, revealed that the syndicate consists of PT Bank Danamon Tbk (BDMN), PT Bank OCBC NISP Tbk (NISP), PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), and PT Bank CIMB Niaga Tbk. (BNGA). Bank CIMB Niaga also serves as facility and security agent.

The syndicated loan worth IDR 4.6 trillion consists of Facility A1 of IDR 1.9 trillion, A2 worth IDR 400 billion, B of IDR 1.3 trillion, and revolving credit facility of IDR 1 trillion. Meanwhile the interest rate for each facility for each interest period is set to the annual percentage, which is an aggregate of applicable margin, 1.6% per annum for the initial facility, and applicable the base rate.

The management mentioned that the Facility A will be used for refinancing or paying bank AGII and SGI’s obligations out of outstanding loan. Facility B will be utilised for AGII group’s working capital, while the revolving credit facility will be spent on AGII group’s general corporate needs.

The management also projects the expansion of AGII. AGII is projected to generate performance growth of 1.5 to 2 times higher than the national economic growth at the end of this year, considering the massive potential of gas market in various segments in Indonesia.

President Director of AGII, Rachmat Harsono, also said that the company is eyeing, at least, 5 market sectors, with the highest potential is shown by medical gas and downstreaming of mineral and coals. (AM/ZG)