BREN's Subsidiary With Bangkok Bank Signs Amendmentd And Restated Facilities Agreement

Photo: Doc. Barito Renewables Energy

JAKARTA - A subsidiary of PT Barito Renewables Energy Tbk (BREN), namely Star Energy Group Holdings Pte. Ltd. (SEGHPL) has signed an Amend and Restated Facilities Agreement with Bangkok Bank Public Company Limited (Bangkok Bank), on Monday, September 2, 2024.

Based on the Approval of the Facility Agreement, there are a number of material provisions that have been changed, including a margin change to 2.50 percent above the SOFR, from previously 4 percent above LIBOR or 4.42826 percent above the SOFR.

Next, the date of Final Payment (Final) will change to August 30, 2029, from December 14, 2027.

BREN's Director and Corporate Secretary, Merly said, had a positive impact on the Company's financial condition, given the decrease in margins in the Facility Agreement Amendment.

This decrease in margin will further strengthen the company's financial health. This is proof of stakeholder confidence in the company's commitment to business development in the field of renewable energy," he said in a written statement, Thursday, September 5.

The amendment to the Facility Agreement is an Amended and Restated on the Facilities Agreement worth US$655,000,000 which was made between SEGHPL and Bangkok Bank on December 11, 2022.

For information, Star Energy Group Holdings Pte. Ltd. (SEGHPL) is a company controlled by the Company which is owned at 100.00 percent. Meanwhile, the Facilities Agreement US$655,000,000 along with its guarantee documents were previously disclosed in the company's Initial Public Offer prospectus on October 3, 2023.