PT Merdeka Copper Gold Tbk (MDKA) has channelled a working capital credit worth USD 60 million to PT Merdeka Tsingshan Indonesia (MTI).

Adi Adriansyah Sjoekri, Corporate Secretary of Merdeka Copper Gold, claimed that the interest rate attached to the credit facility is set to 3-months LIBOR + 5% per annum. “The tenor will be five years, since the agreement was signed yesterday (23/8),” he mentioned in the information disclosure quoted Friday (26/8).

MTI is a controlled group owned by MDKA through PT Batutua Pelita Investment (BPI) with an ownership percentage of 79.99% of the entire issued and paid-up capital worth IDR 1.26 trillion. Another 20% of the shares belong to Wealthy Source Holding Limited.

The transaction value arrives below 20% of MDKA’s total equity recorded in March 2022 of USD 895.22 million. Its total assets clocked up to USD 1.76 billion, while its liabilities amounted to USD 872.52 million.

Source: https://www.idnfinancials.com/news/44096/merdeka-tsingshan-granted-loan