PBJ to loan USD 27 million to MMI
JAKARTA - PT Pani Bersama Jaya (PBJ) has channelled a loan of USD 27 million to PT Merdeka Mining Indonesia (MMI). Both companies are affiliated under the same parent company, PT Merdeka Copper Gold Tbk (MDKA).
Based on the information disclosure quoted Thursday (21/9), MMI will allocate USD 15 million of the loan to pay off the down payment of the capital increase to the company, while the remainder will be spent on corporate needs, including payment for vendors, employees, and consultation to support MMI’s business activities.
This loan is charged with an interest rate of Term SOFR of 3 months and a margin of 6.16% per annum. The payment is due no later than five years after the first withdrawal of said loan.
As is known, 70.05% of PBJ’s shares are owned by MDKA, and 99.99% of MMI’s shares are also owned by MDKA. The boards of directors and commissioners of PBJ also take office as directors in MDKA. (LK/ZH)