JAKARTA - PT Kimia Farma (Persero) Tbk (KAEF) and its subsidiaries have bagged loans totalling Rp 2.35 trillion from four banks.
As reported by CNBC Indonesia on Thursday (26/12), the state-owned pharmaceutical company bagged loans from PT Bank Mandiri (Persero) Tbk (BMRI) amounting to Rp 500 billion, PT Bank Negara Indonesia (Persero) Tbk (BBNI) amounting to Rp 500 billion, PT Bank Maybank Indonesia Tbk (BNII) amounting to Rp 850 billion, and PT Bank BRIsyariah Tbk (BRIS).
The loans all have a 12-month extendable tenor. In addition, the loans have annual interest rates of 8.4%, 8.5%, 8%, and 7.65% respectively.
The loans were obtained due to the company's cross guarantee for loans that can be used by its subsidiaries with a transaction value of over 20% of the company's equity. The value has been awarded a reasonable opinion by a public appraisal office.
According to the company's financial statements in June 2019, Kimia Farma recorded Rp 8.9 trillion in liabilities with a liability per equity ratio of 1.12 times. (ARM/MS)