Buana Finance granted credit limit extension of IDR 250 billion from Bank Jago
JAKARTA. PT Buana Finance Tbk (BBLD) has signed an addendum of its facility agreement with PT Bank Jago Tbk (JAGO) for its last credit facility worth IDR 500 billion.
Ahmad Khaetami, Corporate Secretary of BBLD, claimed that said addendum will extend the credit ceiling of up to IDR 250 billion for the prior obtained facility. Therefore, the total credit facility secured by BBLD from JAGO will increase to IDR 750 billion.
Furthermore, BBLD also signed the deal for one-year extension of the availability period of Term Loan Facility. The credit ceiling of this facility is set to IDR 200 billion.
"The loan facility will be utilised to enhance the company's working capital, including providing consumer financing and financial lease," Khaetami stated in the information disclosure in Indonesia Stock Exchange (IDX).
Khaetami then said that the loan facility of IDR 750 billion will be guaranteed with BBLD's receivables. Meanwhile, the Term Loan Facility was granted without any guarantee. (KR/ZH)