JAKARTA - PT Eterindo Wahanatama Tbk (ETWA) proposed debt restructuring to PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) worth US$ 22.09 million and IDR 506.82 billion. This was conveyed by Lie Kong, President Director of PT Eterindo Wahanatama Tbk (WETA) in an information disclosure quoted on Friday (18/6).
The request for debt restructuring includes, among others, a decrease in current interest rates, write-off of interest expense, and fines in arrears, including installments for payment of principal debt in stages. "This is to improve the company's financial condition, namely, to reduce the cash flow deficit and increase the company's profitability," he said.
ETWA's subsidiaries that received facilities in the form of investment loans and working capital loans were PT Anugerahinti Gemanusa, PT Maishaki Bhumi Semesta, and PT Malindo Persada Khatulistiwa.
The proposed restructuring scheme is the payment of obligations in stages until 2028. In 2021, the total debt to be paid for the current year is IDR 15 billion, IDR 25 billion in 2022, IDR 65 billion in 2023, IDR 80 billion in 2024, IDR 300 billion in 2025, IDR 130 billion in 2026, IDR 40 billion in 2027, and in 2028 the repayment of all remaining debts. (LK/LM)