PT Merdeka Battery Materials Tbk. (MBMA) made an affiliate transaction with PT Merdeka Industri Anantha (MIA) by providing a USD 100 million loan. The transaction will take place on January 22, 2024.

PT Merdeka Industri Anantha (MIA) is a subsidiary with 99% of the shares owned by MBMA.

Citing from the information disclosure of the Indonesia Stock Exchange (IDX), the loan is to support MIA's business activities by providing debt, depositing capital, and/or downpayment of capital deposits.

"The company and MIA have agreed that we provide a USD 100,000,000 loan." MBMA management wrote on Wednesday (24/1).

For every outstanding financing provided by the Company to MIA interest is subject to the sum of the Secured Overnight Financing Rate and 4.75% per annum.

With the implementation of this transaction, MBMA will experience a positive impact, which in turn can create added value for the Company's shareholders indirectly.

The transaction has also been assessed using internal procedures with the same terms and conditions if the transaction is carried out with an unaffiliated party so that the terms and conditions of the transaction are carried out in accordance with generally accepted business practices.

Image source: Bisnis.com

Source: www.cnbcindonesia.com/Merdeka Battery (MBMA) Beri Pinjaman ke Anak Usaha US$ 100 Juta