JAKARTA. PT United Tractors Tbk (UNTR) recently granted a relief regarding its credits channelled to one of its subsidiaries, PT Bina Pertiwi (BP), in the form of a tenor extension to September 31, 2022.
Sara K Loebis, Corporate Secretary of UNTR, claimed that the tenor extension would take effect after the company signed the amendment of the credit agreement made on January 24, 2022. “Aside from the aforementioned information, the details in the information disclosure remain the same and unchanged,” she added.
For the record, the said loan facility was acquired by BP on April 6, 2018, with a face value of IDR 100 billion and a 6.8% interest rate per year. On July 30, 2020, UNTR then raised the credit ceiling for BP to IDR 225 billion and altered the loan interest rate to JIBOR + 0.5% per year.
Then, back on August 28, 2020, UNTR and BP once again amended the said credit facility agreement. The modification encompassed adding conversion option to turn all BP’s debts into shares.
Based on idnfinancials.com data, BP is a subsidiary of UNTR that has been engaged in the heavy equipment trading business since 1997. BP recorded total assets of IDR 1.47 trillion at the end of September 2021. BP also manages seven other business units that work in the power plant business. (KR/ZH)