JAKARTA – PT Bali Towerindo Sentra Tbk (BALI) secures a senior term loan facility of IDR 800 billion from PT Indonesia Infrastructure Finance to refinance its debt and fund capital expenditure.
Lily Hidayat, the Vice President Director of Bali Towerindo, reveals that the facility received by the company consists of Tranche A worth IDR 554 billion and Tranche B of IDR 246 billion. “The collateral securing this term loan is telecommunication tower, optic fibre, and other movable assets of the fiduciary-bonded company,” Hidayat discloses, as quoted in the information disclosure, Tuesday (22/6).
According to Hidayat, Tranche A would be used to pay the issued bond, and Tranche B is channelled to capital expenditure. The loan is effective for seven years, starting from both companies agreed to it last week (17/6).
“The reason for choosing this transaction is due to the competitive interest rate difference and the alternative financing for the company’s operational activities,” Hidayat adds. (LK/ZH)