PT Bayan Resources Tbk (BYAN) received a loan in the form of a credit facility from PT Bank Central Asia Tbk (BBCA). BYAN signed this credit facility agreement on Thursday (7/12).

The credit facility provided by BCA is USD 75 million. This loan consists of a revolving time loan facility with a maximum of USD 50 million. Then, the standby L/C facility is a maximum of USD 75 million. Lastly, the maximum forex forward line facility is USD 10 million.

This loan facility has a term of 36 months from the signing of the banking facility agreement.

Later, this credit facility from BBCA will be used by BYAN to finance working capital, support operational activities, and for foreign exchange transaction needs for BYAN and its subsidiaries.

With this loan, BYAN will have a better opportunity to increase the allocation of funds to finance the operations of BYAN and its subsidiaries.

"This facility is guaranteed by a corporate guarantee provided by PT Bara Tabang, which is a subsidiary of BYAN," wrote BYAN Director Jenny Quantero in an information disclosure on the Indonesian Stock Exchange, Friday (8/12).