JAKARTA - PT Ancora Indonesia Resources Tbk (OKAS) obtains a loan facility with a maximum limit of IDR 150 billion from PT Bank Pan Indonesia Tbk (PNBN). The total credit facility is charged with an interest rate of 10% per annum (floating).

Ahmad Zakky Habibie, Corporate Secretary of OKAS, mentioned that credit facility will be utilised for refinancing shareholder loan owed to PT Multi Berkat Energi (MBE) of IDR 35 billion and PT Island Spice Investments Limited (ISIL) of IDR 115 billion.

“The tenor of the credit facility is 5 years, starting from the credit agreement signing date yesterday (4/9),” Habibie said in the information disclosure quoted Friday (6/9).

MBE and ISIL are both controlling shareholders and primary shareholders of OKAS. In this transaction, PT Arpeggio Resources, OKAS’s subsidiary, serves as a corporate guarantee. In addition, other collaterals include personal guarantee on behalf of Gita Irawan Wirjawan, and 16 units of non-residential stacked property owned by Arpe in Equity Tower, 40th and 41st level, SCBD, Jakarta.

The shareholder loan payment, from OKAS to ISIL, is known to be a requirement in order to discharge the guarantee of 20% of PT Multi Nitrotama Kimia (MNK), owned by the company.

This credit facility will reduce interest expenses from shareholder loan borne by OKAS from USD 5.85 million to USD 4.06 million. (LK/ZH)