Medco Energi secures facility of IDR 5.25 trillion from Bank Mandiri
JAKARTA. PT Medco Energi Internasional Tbk (MEDC) has signed a Term Loan II credit facility with PT Bank Mandiri (Persero) Tbk (BMRI).
The credit facility given by BMRI to MEDC has a principal of IDR 5.25 trillion. It will mature by June 23, 2028.
Siendy K. Wisandana, Corporate Secretary of MEDC, said that this credit facility will definitely add to the financial obligations of the company. However, this facility is required for “refinancing obligations in the form of bonds issued in USD and IDR,” Wisandana mentioned in the information disclosure in Indonesia Stock Exchange (IDX).
According to IDNFinancials data, the total long-term liabilities of MEDC were recorded at USD 3.75 billion as of march 31, 2023. Meanwhile, the long-term loans maturing within one year were seen at USD 310 million.
Approximately USD 273 million of those are bank loans due for repayment in a year. Then, loans from non-bank institutions were USD 3.5 million, followed by bonds in rupiah worth USD 32.44 million. (KR/ZH)