JAKARTA. PT Gajah Tunggal Tbk (GJTL), a tyre manufacturer known with brands like GT Radial and IRC, has signed a syndicated loan facility from several banks worth IDR 4.4 trillion.

The credit facility consists of 2 tranches, with tenors set to 8 and 9 years each. Some of the banks assisting this syndicated loan are PT Bank Central Asia Tbk (BBCA), PT Bank Digital BCA, PT Bank Permata Tbk (BNLI), PT Bank KEB Hana Indonesia, and PT Bank Oke Indonesia Tbk (DNAR).

For the record, BBCA also acts as original mandated lead arranger and bookrunner, while facility and guarantee agents are from the banks that provide financing.

“The new credit facility will be used by the company to pay some of outstanding payables included in Senior Secured Notes issued on June 23, 2021, with Deutcshe Bank, Hong Kong, as the trustee, with total principal of USD 175 million, maturing in 2026,” Kisyuwono, Director of GJTL, revealed in the information disclosure in Indonesia Stock Exchange (IDX).

Kisyuwono further said that this credit facility is expected to bring positive impact on financial performance of the company, especially in lowering forex risk, which might affect profitability of the company.

According to IDNFinancials data, GJTL recorded cash and cash equivalent of IDR 1.38 trillion as of September 30, 2024. Total assets were reported at IDR 19.89 trillion, and total equity reached IDR 9.14 trillion. (KR/ZH)