PT Indika Energy Tbk. (INDY) pocketed a loan facility worth
USD 300 million equivalent to IDR 4.64 trillion from PT Bank Mandiri (Persero)
Tbk. (BMRI) and PT Bank Negara Indonesia (Persero) Tbk. (BBNI).
Corporate Secretary of Indika Energy Adi Pranomo said that
the company and its subsidiaries signed a loan facility from BMRI and BBNI on
December 28, 2023. INDY's subsidiaries that act as the initial underwriters of
this loan agreement are PT Tripatra Engineering, PT Tripatra Engineers and
Construction, and Tripatra (Singapore) Pte.Ltd.
"This facility agreement will be used to pay the
company's debt," Adi said in the information disclosure, Wednesday
(3/1/2024).
In addition to the facility agreement, Adi said, INDY together
with subsidiaries and creditors also signed a facility letter and guarantee
documents in the form of an Account Pledge Agreement and a Guarantee
Confirmation Agreement, as well as additional letters for agreements between
creditors.
The facility agreement is guaranteed pari passu based on the
terms of the indenture for 5.875% senior bonds maturing 2024 of USD 575
million, and 8.250% senior notes maturing 2025 of USD 675 million.
In its financial report, INDY posted revenue of USD 2.29
billion or equivalent to IDR 36.5 trillion until the third quarter of 2023.
This revenue decreased by 26.64% compared to the same period last year of USD 3.13
billion.
INDY's revenue was obtained from contract and service
revenue of USD 229.2 million, overseas coal sales of USD 1.68 billion, coal
sales to domestic customers of USD 357.1 million, and other trade of USD 25.7
million.
Meanwhile, based on its segment, energy services contributed
revenue to INDY of USD 184.09 million, energy resources of USD 2.04 billion,
logistics and infrastructure of USD 34.2 million, and minerals of USD 21.8
million.
Then green business of USD 10.6 million, and digital venture
of USD 4.25 million. The decline in revenue also eroded INDY's net profit by
72.27%. INDY's net profit decreased from USD 338.3 million to USD 93.8 million
or equivalent to IDR 1.49 trillion as of September 2023.
Previously, INDY said that it had absorbed capital
expenditure (capex) of USD 104.9 million or equivalent to IDR 1.62
trillion until 9 months 2023.
Image source: Bisnis/Arief Hermawan P
Source: www.market.bisnis.com/Indika Energy (INDY) Kantongi Pinjaman Rp4,64 Triliun dari Bank Mandiri & BNI
