The Tower Company Of The Djarum Group, Owned By The Hartono Brothers, Gets A Rp700 Billion Loan From JPMorgan

Illustration. (Photo: Unsplash)

JAKARTA - After being acquired by a telecommunications tower company from the Djarum Group belonging to conglomerate Hartono Brothers, PT Solusi Tunas Pratama Tbk (SUPR) obtained a revolving loan facility of a maximum of IDR 700 billion from the banking institution JPMorgan Chase Bank, NA.

Previously, a subsidiary of PT Sarana Menara Nusantara Tbk (TOWR), PT Professional Telekomunikasi Indonesia Tbk (Protelindo) officially acquired 94.03 percent of SUPR, and became the main shareholder. The acquisition value reached IDR 16.7 trillion.

"In detail, revolving loan and overdraft facilities not exceeding Rp. 00 billion are available for Solusi Tunas Pratama," said Corporate Secretary of Solusi Tunas Pratama A. Ardityo Budi Susetiatmo in a written statement, quoted Thursday, November 25.

This loan was granted through the ratification of the letter of the seventh amendment to the offer of banking facilities without commitment on November 9, 2021 and effective on November 18, 2021. This letter is an amendment to the letter of offering of banking facilities without commitment on April 20, 2018 between Protelindo and JPMorgan which was last amended on 16 April 2021.

In addition to SUPR, loan facilities were also provided to other TOWR business entities, namely, Protelindo, PT Iforte Solusi Infotek (Iforte), and PT Komet Infra Nusantara (KIN).

Protelindo obtains a revolving loan facility of a maximum of IDR 700 billion and a bank guarantee facility of a maximum of IDR 500 billion. In addition, the maximum revolving loan is IDR 500 billion for Iforte, and IDR 50 billion for KIN.

The Corporate Secretary of Sarana Menara Nusantara, Irfan Ghazali, said that in the previous agreement, Protelindo only obtained a bank guarantee facility of Rp. 500 billion, while Iforte only received Rp. 200 billion. According to him, all business entities that obtain loan facilities have joint responsibility for these facilities.

"The loan facility will expire on April 16, 2022," he said.