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PGAS to give Saka Energi additional time to pay its debt

30 September 2021 20:36

JAKARTA. PT Perusahaan Gas Negara Tbk (PGAS) had signed an agreement regarding a credit tenor extension given to one of its subsidiaries, PT Saka Energi Indonesia (SEI).

Rachmat Hutama, Corporate Secretary of PGAS, stated that this loan tenor extension is a result of a shareholder’s credit facility amendment initially channelled on February 6, 2015, and December 31, 2015. These credits amounted to USD 77.61 million and USD 283.12 million.

After the revision, the tenor of the first loan facility is extended to January 6, 2023, meaning that this facility needs to be paid back by the said date.

Meanwhile, the other facility would be extended to December 1, 2025. However, 50% of the total loan facility should be repaid by December 1, 2024, while the rest of it could be paid until December 1, 2025.

According to idnfinancials.com, SEI is a subsidiary of PGAS that manages the oil and natural gas exploration business. This company, commercially operated in 2011, has total assets before elimination of USD 1.87 billion as of June 30, 2021. (KR/ZH)

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