JAKARTA. PT Bank Mandiri (Persero) Tbk (BMRI) has signed an agreement to provide a Rp200 billion loan to PT Dian Swastatika Sentosa Tbk (DSSA), a business unit of the Sinarmas Group engaged in coal mining.
Susan Chandra, Corporate Secretary of DSSA, said that the loan facility would mature on 7 November 2021. The loan facility, which is given with DSSA's assets as collateral, has an interest rate of 9% per year.
"The facility will be used to support the company's operational activities," Chandra said in a disclosure published on the Indonesia Stock Exchange's website today.
Chandra added that the loan facility from BMRI does not affect DSSA's Debt to Equity Ratio (DER). According to idnfinancials.com data, DSSA's total liabilities were recorded at US$2.09 billion at the end of the first semester of 2020. With total equity of US$1.75 billion, the company's DER in this period was at the level of 1.66 times. (KR/AR)