Tower Together Signs IDR 5.11 Trillion Revolving Facility Agreement

BTS (Photo: Doc. Antara)

JAKARTA - PT Tower Bersama Infrastructure Tbk (TBIG) signed an agreement for the revolving facility of US$ 325 million from the bank consortium. Where, it will be distributed to the company's subsidiaries group.

Citing information disclosure, Jakarta, Wednesday, April 19, the Transaction Value is 325 million US dollars or equivalent to Rp5.11 trillion (BI middle exchange rate of Rp15,731 per US dollar).

The revolving loan facility is credit for permanent working capital financing, which amounts to the company's cash flow.

Therefore, the loan value received by the Company's Subsidiary is 46.8 percent of the Company's total equity as of December 31, 2022, which has been audited amounting to Rp10.92 trillion.

The bank consortium is United Overseas Bank Limited, DBS Bank Ltd, PT Bank HSBC Indonesia, PT Bank CIMB Niaga Tbk, Credit Agricole Corporate and Investment Bank, Oversea-Chinese Banking Corporation Limited, PT Bank OCBC NISP Tbk, PT Bank Miiho Indonesia and BNP Paribas.

Meanwhile, the subsidiaries who received this loan were, h PT Triaka Bersama, PT Metric Solusi Integration, PT Telenet Internusa, PT United Towerindo, PT Tower Bersama, PT Tower One, PT Batavia Towerindo, PT PrimaMedia Selaras, PT Bali Telekom, PT Solu Sindo Kreasi Pratama, PT Mitayasa Sarana Informasi, PT Solusi Menara Indonesia, and PT Menara Bersama Terpadu.

This transaction is carried out as a support for the funding needs of the Company and the Company's Subsidiary Group which is owned directly and indirectly, which jointly receives loans from the consortium of banks. Where, will be used for general funding requirements from the Company and the Company's Children's Entity Group including but not limited to the repayment of existing debts, capital expenditure and any acquisition funding permitted by Financing Documents.

With the signing of this revolving loan facility, the Company can extend the date of the Company's loan maturity.

In addition, the interest margin for this facility is lower than the previous Company loan facility, so it is hoped that the company's overall funding costs will decrease so that it can increase the Company's profit growth and maximize the Company's value.