JAKARTA - Newton Capital Ltd is taking over the syndicated loan from PT Bank CIMB Niaga Tbk (BNGA) and PT Bank Artha Graha Internasional Tbk (INPC) in PT Net Mediatama Televisi, a subsidiary of PT Net Visi Media Tbk (NETV).

Ferry, Corporate Secretary of NETV, clarified that the total credits reallocated by BNGA and INPC to Newton is set according to the credit facility agreement dated January 29, 2020, which amended on March 27, 2023. The credit facility transfer agreement was signed last week (15/2).

It is known that NETV has restructured its debts to BNGA and INPC. As of January 29, 2020, the loans owned to both banks were reported reaching IDR 11.73 billion, IDR 3 billion of which had been paid off, while the remaining IDR 8.73 billion will be paid in pro-rate, gradually, within 12 months, starting from January 1 to December 1, 2023.

On March 27, 2023, both parties agreed upon the third amendment of the agreement regarding the obligation, which included the debt-to-EBITDA ratio and minimum debt payment ratio.

The debt transfer to Newton Capital will not affect the company’s operation, as NETV is not affiliated with Newton Capital. (LK/ZH)