PT United Tractors Tbk (UNTR) will channel a loan of IDR 4 trillion to its subsidiary, PT Pamapersada Nusantara (PAMA).

Sara K. Loebis, Corporate Secretary of UNTR, revealed that the facility will be available for withdrawal until December 16, 2023. “The company and PAMA signed the addendum of the initial agreement yesterday (19/1), agreeing on the availability of the funds throughout last year,” she added, as quoted Tuesday (23/1).

Said loan is equipped with an interest rate of JIBOR + 3.2% per year. The facility will be used to enhance PAMA’s working capital. The parties agreed that this facility will bring more benefits for PAMA compared to the third party.

UNTR controls 99.99% of PAMA, while PT United Tractors Pandu Engineering claims another 0.005%. (LK/ZH)

Source: https://www.idnfinancials.com/news/45757/untr-sets-idr-loans-pama