JAKARTA - PT Bintang Samudera Mandiri Lines Tbk (BSML) will pay off the remaining principal of the Non Revolving Investment Credit from PT Bank Mandiri (Persero) Tbk (BMRI) of IDR 127.64 billion one month after the initial public offering (IPO).
In the prospectus quoted on Friday (12/17), BSML management will deposit IDR 5 billion to repay the principal debt to BMRI as much as IDR 132.64 billion. The investment credit interest rate is set at 6%-9% per year with maturity date on November 23, 2027. The funds came from the company's initial public offering during (9-14/12) managed to collect IDR 43 billion.
The plan is to pay off debt early to reduce the bank's debt so that debt to equity ratio will improve and the company's capital structure will strengthen. After the IPO, BSML's issued and paid-up capital was recorded at IDR 46.25 billion from the previous IDR 37 billion. As of June 2021, total equity is IDR 54.71 billion and revenue is IDR 29.28 billion. (LK/LM)