JAKARTA. PT Buana Finance Tbk (BBLD) has signed a credit facility agreement with PT Bank HSBC Indonesia.

Ahmad Khaetami, Corporate Secretary of BBLD, mentioned that in the agreement, Bank HSBC is said to grant irregular instalment loan facility 1 and revolving FI loan with total principal of IDR 300 billion. The tenors set for each credit facility are 48 and 36 months.

The loan facility will be used to fund the company’s working capital, including consumer finance and financial lease. “The facilities will be secured by the company’s receivables,” added Khaetami in the official disclosure.

According to IDNFinancials data, BBLD recorded total cash and cash equivalent of IDR 476.36 billion as of March 30, 2024. Total assets were at IDR 6.4 trillion, while total equity was at IDR 1.42 trillion. (KR/ZH)