JAKARTA. PT Buana Finance Tbk (BBLD), a consumer financing company, has obtained a term credit loan from PT Bank KEB Hana Indonesia.

Ahmad Khaetami, Corporate Secretary of BBLD, mentioned that said facility is given with total principal of IDR 200 billion. The tenor agreed upon this loan agreement is 36 months.

“Said credit facility will be used for the company’s working capital, which includes distribution of consumer finance,” added Khaetami in the information disclosure in Indonesia Stock Exchange (IDX).

For the record, the total loan secured from Bank KEB Hana is equal to 23% of BBLD’s total equity as of June 30, 2023. Although it is a material transaction, Khaetami claimed that this transaction does not require approval from General Meeting of Shareholders.

“As it is a loan transaction directly obtained from the bank,” Khaetami clarified.

According to IDNFinancials data, BBLD’s total assets were recorded at USD 5.44 trillion in September 2023. Meanwhile, its equity was IDR 1.36 trillion. (KR/ZH)