JAKARTA. PT Trada Alam Minera Tbk (TRAM) has bagged a US$ 100 million or Rp 1.42 trillion loan from PT Inti Pancar Dinamika.
TRAM Director Ismail said that the loan has a tenure of 10 years since its disbursement with an interest rate of 12.5% per year.
As of late June TRAM's equity was recorded at Rp 4.96 trillion. Due to the transaction value being 28.63% of the company's equity, Mr Ismail said that the loan met the criteria of a material transaction.
TRAM will use the loan facility to finance its mining infrastructure and logistics project and as working capital. The company has guaranteed its assets, along with revenue from the said project, which will be obtained later on. (KR/MS)