PT Harum Energy Tbk (HRUM) obtained a revolving credit facility in US dollars with a total commitment amount of US$ 390 million. The maturity date of the loan facility is December 31, 2025.

In the information disclosure on the Indonesia Stock Exchange website, Monday (10/10), the lenders in this revolving credit facility are United Overseas Bank Limited, PT Bank UOB Indonesia, Oversea-Chinese Banking Corporation Limited, PT Bank OCBC NISP Tbk (NISP)., PT Bank DBS Indonesia, DBS Bank Ltd., PT Bank CIMB Niaga Tbk (BNGA), PT Bank BTPN Tbk (BTPN), and PT Bank QNB Indonesia Tbk (BKSW).

One of the considerations of this loan is to achieve sustainable business growth.

Where one of HRUM's main efforts is to diversify its business through expansion into nickel mining and processing businesses, which require considerable financing. The source of financing for the business expansion will come from, among others, loan facilities.

The loan facility, if used, will cause obligations to pay the principal and interest on the loan.

On the other hand, the loan facility is expected to increase financial flexibility and liquidity as well as HRUM's ability to finance its business expansion.

The loan facility can be used for two purposes. First, the payment of costs, costs and expenses based on or in connection with the loan facility agreement. Second, capital expenditure, working capital, corporate needs and investment in general.

"This loan facility can be withdrawn and repaid at any time by the Company in accordance with the provisions in the loan facility agreement. At the time this Information Disclosure was issued, the Loan Facility had not been used by the Company," wrote HRUM

management As for this loan, it is material, based on a transaction value of US$ 390 million. This is equivalent to 59% of HRUM's total consolidated equity based on the 2021 consolidated financial statements.

Thus, in accordance with the provisions of POJK 17, this transaction is a material transaction, with a transaction value exceeding 20% of the equity.

Source: https://investasi.kontan.co.id/news/harum-energy-hrum-dapat-fasilitas-kredit-revolving-hingga-us-390-juta