JAKARTA - PT Waskita Karya Realty (WSKT Realty), a subsidiary of PT Waskita Karya (Persero) Tbk (WSKT), restructured its debt as much as IDR 19 billion. The restructuring agreement took place last week (12/2).

In an information disclosure quoted on Monday (19/2), Muhammad Hanugroho, President Director of PT Waskita Karya (Persero) Tbk (WSKT) said that WSKT Realty and PT Kospin Jasa had signed an addendum II to the loan agreement. "The details of the addendum II include an extension of the credit period for three months until May 12, 2024," he said.

In addition, the two parties agreed to change the interest rate to 11.75% per year. The relaxation of the loan tenor and interest rate will have a positive impact on the WSKT subsidiary's finances.

WSKT Realty's obligation of IDR 19 billion refers to the loan agreement signed on May 12, 2023, and revised on August 11, 2023.  WSKT Realty shares are 99.9% owned by WSKT. (LK/LM)