JAKARTA - PT Kariangau Gapura Terminal Energi (Kariangau Gapura), a company controlled by PT Indika Energy Tbk (INDY) owned by conglomerate Agus Lasmono Sudwikatmono through PT Indika Energy Infrastructure, signed a syndicated credit facility agreement with 3 banks. The syndicated credit facility, which was signed by Kariangau Gapura on Wednesday, December 29, is valued at US$70 million or around Rp. 1.01 trillion.
The three banks that became creditors in the syndicated credit facility consisted of PT Bank Mandiri Tbk (BMRI), PT Bank Negara Indonesia Tbk (BBNI), and PT Bank UOB Indonesia. Through information disclosure submitted by Adi Pramono, Corporate Secretary of PT Indika Energy Tbk, quoted on Friday, December 31, it is stated that the tenor of the syndicated credit facility is 5.5 years, until December 31, 2026. To obtain this loan, Kariangau Gapura must pay interest of 3M LIBOR (3 months) plus 2.5 percent per year.
The loan was used by Kariangau Gapura to repay a loan to Indika Capital Pte. Ltd. On December 31, 2018, INDY and its subsidiaries signed a loan facility of US$ 75 million from. This credit facility is provided by ICICI Bank Limited (ICICI), MUFG Bank Ltd and Bank Mandiri.
The loan facility charges an interest rate of LIBOR plus 1.85 percent per annum. This credit facility will mature on December 31, 2023.
INDY's disclosure as of January 2, 2019 stated that the funds from the credit facility will be used to finance the business development of INDY's subsidiaries, in building, owning and operating the jetty (jelly) and fuel storage terminal.
For your information, PT Kariangau Gapura Terminal Energi was formerly known as PT POSB Prasarana Petro Energi. On March 17, 2017, INDY together with PT Indika Logistic & Support Services established POSB Prasarana Petro Energi.
This company is engaged in storage and/or rental of oil CPU tanks, onshore and offshore logistics base activities, as well as supporting services for oil and gas industry activities. At the beginning of the establishment of POSB Prasarana Petro Energi, INDY owned 25 percent of the shares and the remaining 75 percent of the shares were controlled by PT Indika Logistic Support Services.
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