The Hartono Brothers' Djarum Group Tower Company Gets A IDR 3 Trillion Loan From Bank Mandiri

Illustration. (Photo: Doc. Antara)

JAKARTA - The tower company from the Djarum Group owned by the Hartono Brothers conglomerate, PT Sarana Menara Nusantara Tbk (TOWR) through its three subsidiaries, received a loan from PT Bank Mandiri (Persero) Tbk. The value is IDR 3 trillion.

Sarana Menara's subsidiaries include PT Professional Telekomunikasi Indonesia (Protelindo), PT Iforte Solusi Infotek (Iforte), and PT Solusi Tunas Pratama Tbk (STP). The three have signed a credit agreement with Bank Mandiri on May 25.

The Deputy Managing Director of Sarana Menara, Adam Gifari, explained that the IDR 3 trillion loan from Bank Mandiri consisted of A IDR 2.5 trillion facility which could only be used by Protelindo. "The remaining Rp500 billion of facility B is only used by Iforter," said Adam through information disclosure to the Indonesia Stock Exchange, Tuesday, May 31.

The purpose of the IDR 3 trillion loan with a term of 36 months is indeed to support the general needs of Protelindo and Iforte. Meanwhile, STP will act as a guarantor that guarantees the obligations of Protelindo and Iforter with credit and guarantee agreements.

For information, Protelindo and Iforter are subsidiaries of Sarana Menara with 99.99 percent ownership. Meanwhile, STP is a subsidiary of Protelindo with 99.96 percent ownership.

"The loan structure with the concept of providing coverage by STP will allow Protelindo and Iforter to obtain financing with better terms and conditions," Adam added.