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