The Subsidiary Of The Tower Company Of The Djarum Group, Owned By The Hartono Brothers, Gets A IDR 1 Trillion Loan From BNI

Illustration. (Photo: Pixabay)

JAKARTA - A subsidiary of the tower company owned by the Hartono Brothers conglomerate, PT Sarana Menara Nusantara Tbk (TOWR), namely PT Iforte Solusi Infotek (Iforte), signed a credit agreement with PT Bank Negara Indonesia (Persero) Tbk (BBNI).

The management of Sarana Menara Nusantara said that on May 13, 2022, Iforte had signed a credit agreement with BNI, with a loan amount of IDR 1 trillion. This credit has a term of 60 months from the date of signing the credit agreement.

"The purpose of signing this loan is to support the general needs of the Iforte company," said management in an information disclosure on the Indonesia Stock Exchange (IDX), quoted on Saturday, May 21.

In this agreement, another subsidiary of TOWR, PT Professional Telekomunikasi Indonesia (Protelindo) will guarantee the obligations of Iforte. This company's coverage is regulated and subject to the laws of the Republic of Indonesia.

TOWR management continued, the signing of the company guarantee was an affiliated transaction as referred to in POJK 42/2020.

"The loan structure with the concept of providing coverage by Protelindo will allow Iforte to obtain financing with better terms and conditions," said management.

According to management, this will not be achieved if Protelindo is not an affiliated party. The provision of this facility is expected to support Iforte's business activities, which on a consolidated basis will also have a positive impact on the company.

TOWR management also ensures that the credit agreement and company guarantee do not contain a conflict of interest, as referred to in POJK 42/2020.