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BEST earn a USD 90 million syndicate loan

26 July 2022 07:50

JAKARTA – PT Bekasi Fajar Industrial Estate Tbk (BEST) obtains a loan from a syndicate of banks worth USD 90 million, which will be used to pay back other loans. Herdian, Corporate Secretary of BEST, announced the news in the information disclosure quoted Tuesday (26/7).

“It is for refinancing purposes, repaying other existing syndicate loans, as well as covering the expenses and cost of data centre infrastructure construction in MM2100 Industrial Zone,” Herdian further revealed.

The recent syndicate facility was signed last week on July 22, 2022. The lenders are PT Bank Permata Tbk (BNLI), Indonesia Eximbank, PT Bank Mandiri (Persero) Tbk (BMRI), PT Indonesia Infrastructure Finance, and PT Bank Jtrust Indonesia Tbk (BCIC).

The credit will be available for 78 months since the facility agreement was signed last week. The interest rate is set to a margin of 5.0%, plus three-months Term Secured Overnight Financing Rate (SOFR) and an adjustment spread credit rate.

According to Herdian, this facility is expected to secure the cash flow of the company in order to maintain its operational activities. (LK/ZH)

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