JAKARTA. PT Citra Marga Nusaphala Persada Tbk (CMNP), a toll road company, has acquired a sharia financing facility from PT Sarana Multi Infrastruktur (Persero).

Hasyim, Independent Director of CMNP, said that this financing facility will be used to develop Ancol Timur – Pluit (Elevated) Toll Road / Harbour Road II. The limit set for this facility is IDR 4 trillion.

The facility actually consists of Tranche I of IDR 2 trillion and Tranche II (Accordion) of IDR 2 trillion. The tenor for this facility is 10 years, starting from the date of agreement signing.

In order to acquire this financing facility, CMNP has submitted several assets as guarantees, including, among others, concession rights for toll road operation, toll road income and income from other related business lines, funds in escrow account, as well as receivables from insurance claim and bank guarantee. (KR/ZH)