The gold mining business development project owned by PT Indika Energy Tbk (INDY) is rolling again. On Thursday (2/3), INDY signed a US$ 250 million credit facility agreement with its subsidiaries, including PT Indika Inti Corpindo, PT Tripatra Multi Energi, PT Tripatra Engineering, PT Tripatra Engineers and Constructors, and Tripatra (Singapore) Pte. Ltd. In this case, the five INDY subsidiaries act as initial guarantors. These five companies are 100% owned by INDY, both directly and indirectly.

This agreement was signed with a number of banks. PT Bank Mandiri Tbk (BMRI), PT Bank Negara Indonesia Tbk (BBNI), PT Bank UOB Indonesia, PT Bank DBS Indonesia, PT Bank KB Bukopin Tbk (BBKP) act individually or jointly as regulators. BBNI acts as agent and BMRI as guarantee agent, and BMRI and BBNI respectively act as bank accounts. The facility agreement will be used for the development and construction of the Awak Mas Project from PT Masmindo Dwi Area. In addition to the facility agreement, INDY and the parties involved also signed a facility letter, guarantee confirmation agreement and additional letter for the intercreditor agreement.

The facility agreement is guaranteed on a pari passu basis based on the terms in the indenture for Senior Debt Notes with an interest of 5.875% amounting to US$ 575 million and Senior Notes with an interest of 8.250% amounting to US$ 675 million. "This transaction will not have a material impact, but will improve Indika Energy's performance," explained INDY Corporate Secretary Adi Pramono in an information disclosure on the Indonesia Stock Exchange, Tuesday (7/3).

Source: https://investasi.kontan.co.id/news/kembangkan-tambang-emas-indika-energy-indy-teken-kredit-sindikasi-us-250-juta