JAKARTA. PT Cisadane Sawit Raya Tbk (CSRA), an issuer engaged in the agriculture sector, has signed the credit facility worth IDR 390 billion from PT Bank Mandiri (Persero) Tbk (BMRI).

Seman Sendjaja, Director of CSRA, revealed that there are 4 types of credit facility received by BMRI. The credit facility consists of working capital credit worth IDR 40 billion and IDR 20 billion, investment credit facility 2 of IDR 240 billion, and investment credit facility PKS of IDR 90 billion.

Said credit facility was directly allocated to CSRA’s subsidiary, PT Samudera Karya Lestari (SKL). For the record, the credit facility is categorised as a material transaction, as the value exceeds over 50% of total equity of SKL.

According to the credit facility agreement, SKL will be charged with an interest rate of 8.50% per annum for those credit facilities. The tenor set for the working capital credit is 1 year, while the tenor for the investment credit is 10 years. Lastly, the PKS credit facility has a tenor of 8 years.

CSRA gave out certificates of 5 land plots located in South Tapanuli in relation to this credit facility for SKL.

“The credit facility from bank is meant to support business development, as well as operation and maintenance of PKS,” Sendjaja said in the official disclosure. (KR/ZH)