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KMI Wire and Cable requests loan extension and increase from Bank Mandiri

26 February 2020 14:12

JAKARTA - PT KMI Wire and Cable Tbk (KBLI) has requested a loan extension and increase from PT Bank Mandiri (Persero) Tbk (BMRI). The loan facility consists of Rp 1.36 trillion in working capital and US$10 million in treasury line.

In the company's stock exchange filing, KBLI Corporate Secretary Made Yudana said the loan faciliy will be used to strengthen the company's working capital in order to improve its operational performance. "[The company] has provided as collaterals assets including land and buildings, equipment, stock, and receivables which are worth over 50% of the company's wealth," he said.

The loan has a period of 12 months since its signing on Monday (24/2), while the loan interest rate can change in accordance with Bank Mandiri's regulations. As of September 30, 2019, KBLI's asset value is Rp 3.16 trillion, lower than its asset value of Rp 3.24 trillion as of December 31, 2018. (LK/MS)

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