JAKARTA. PT Buana Finance Tbk (BBLD), a consumer financing company listed on Indonesia Stock Exchange (IDX) since 1990, has acquired a credit facility worth IDR 765 billion from PT Bank Danamon Indonesia Tbk (BDMN).

Ahmad Khaetami, Corporate Secretary of BBLD, revealed that the credit facility obtained by the company consists of term loan worth IDR 750 billion and current account loans of IDR 15 billion. The tenors set for both types of facilities were 48 and 12 months.

“This credit facility will be allocated to the company’s working capital, namely consumer financing and finance leasing,” Khaetami explained in the official statement.

BBLD submits its accounts receivables to secure this credit facility. According to IDNFinancials data, finance leasing receivables of BBLD were reported at IDR 1 trillion, while consumer financing receivables were IDR 3.72 trillion and other receivables reached IDR 41.52 billion.

At the end of February 2024, BBLD were also reported receiving a credit facility of IDR 200 billion from PT KEB Hana Indonesia. The credit facility was also used to meet working capital needs of the company for financing. (KR/ZH)