JAKARTA - Two subsidiary companies of PT Sarana Menara Nusantara Tbk (TOWR) obtained two loan facility schemes each worth Rp 875 billion and US$ 60 million from Bank of China (Hongkong) Limited based in Hong Kong and the Jakarta Branch.
As quoted from the disclosure of company information, the loan facility was signed on November 8, 2019 by Protelindo for general corporate operational purposes. Meanwhile, the loan period lasts for 12 months since the loan facility agreement is signed by both parties.
The collateral for the loan facility to the Bank of China is the guarantee of the Iforte company, as a subsidiary of Protelindo. This guarantee is expected to support Protelindo's business activities. (LK)