JAKARTA - Bangkok Bank Public Co Ltd has disbursed a US$ 200 million loan facility to PT Barito Pacific Tbk (BRPT). The loan facility will be used by BRPT to refinance its debt to Barclays Bank plc and DBS Bank Ltd, which was signed on November 15, 2018.
In the company's stock exchange filing, BRPT Corporate Secretary Diana Arsiyanti said the loan will be refinanced within 48 months. "The loan is guaranteed with a mortgage on the company's debt service reserve account (DSRA)," she wrote.
Other collaterals include a mortgage on BRPT's stake in PT Chandra Asri Petrochemical Tbk (TPIA) and a power of attorney to sell shares in relation to the mortgage. With the loan facility, BRPT's debt to Barclays and DBS will be repaid and replaced by a new debt to Bangkok Bank. (LK/MS)