JAKARTA – PT Prima Cakrawala Abadi Tbk (PCAR), a fisheries distributor, arranges a debt restructuring for its subsidiary, PT Nuansa Cipta Magello (NCM), which owes a debt to PT Pool Advista Finance Tbk (POLA). Corporate Secretary of Prima Cakrawala Abadi, Baradian Ferry, announces the plan in the information disclosure, quoted Thursday (9/9).
Specifically, the restructured debts include investment financing and multipurpose financing, whose credit ceilings reach IDR 12 billion and IDR 4 billion, respectively. The payment period spans two years for investment credit, from August 30, 2021, to September 30, 2023. Its annual interest rate was set to 3%, with a deferred interest rate of 7%, which is due once the credit is matured. Meanwhile, the payment period of multipurpose financing starts on August 30, 2021, and will be concluded on August 30, 2022. Its interest rate is also 3% per year alongside a deferred interest rate of 7% once the credit is due.
The aim of this debt restructuring is to reduce interest expenses on each credit of NCM. The expense of the investment financing, whose limit is capped at IDR 12 billion, would be reduced by IDR 772 million, from IDR 4.64 billion to IDR 3.87 billion. Similarly, the multipurpose financing, capped at IDR 4 billion, would have its expenses cut by IDR 150 million, now IDR 1.29 billion from IDR 1.44 billion.
“The creditor, POLA, does not have any affiliations with PCAR,” Ferry confirms. (LK/ZH)