JAKARTA. PT Trans Jabar Tol (TJT), a subsidiary of PT Waskita Karya (Persero) Tbk (WSKT) owned through PT Waskita Toll Road (WTR), has obtained a syndicated loan facility of IDR 3.4 trillion.

Said credit facility had been signed by TJT as the debtor, as well as PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) and PT Sarana Multi Infrastruktur (Persero) as creditors. This credit agreement was then signed on February 29, 2024.

In the official disclosure, WSKT explained that this credit facility will be used to refinance shareholder loan granted by SMI. The shareholder loan was utilised to fund the Ciawi-Sukabumi Section III Toll Road project.

“With this transaction, it is expected to improve TJT’s financial condition and strengthen the working capital of the Ciawi-Sukabumi Section III Toll Road project construction,” said the management of WSKT in the official statement.

For the record, the syndicated loan facility received by TJT is equal to 24% of total equity of WSKT as of 2022. TJT, SMI, and BBRI are affiliated as those three are owned by the Indonesian government. (KR/ZH)