The subsidiary of PT United Tractors Tbk (UNTR), namely PT Pamapersada Nusantara, is reported to have obtained a loan with a quite fantastic value.
According to Bloomberg reports, Pama received a loan worth USD 527.9 million or the equivalent of IDR 8.25 trillion. Pama obtained this loan from a number of Indonesian banks and financial institutions, according to a party who declined to be named
Lenders include PT Bank Central Asia Tbk (BBCA), PT Bank Mandiri Tbk (BMRI), PT Bank Permata Tbk (BNLI), PT Bank Rakyat Indonesia Tbk (BBRI), and the Indonesian Export Financing Institution.
This loan has a 5 year term with Jibor + 105 basis points (bps). Bloomberg said that this loan would be used for general company purposes.
For information, Pama is a subsidiary of UNTR engaged in mining contractors. In terms of operations, Pama recorded a coal production volume of 83.8 million tons during the first 8 months of 2023. This number increased 16.4% from the realization of production in the same period last year, namely 72 million tons.
Within the first 8 months of 2023, Pama recorded an overburden (OB) removal volume of 742.6 million bank cubic meters (bcm). The realization increased 22.3% from the realization of OB removal in the same period last year of 607.2 million bcm.
In the August 2023 period, Pama production set a record for the highest monthly production this year. OB removal volume in August reached 115.1 million bcm while coal production reached 12.7 million tons.
Image source: UNTR
