Tower Company From The Djarum Group Of The Hartono Brothers Conglomerate Gets IDR 504 Billion Loan Facility From MUFG Bank

Illustration. (Photo: Doc. Antara)

JAKARTA - A telecommunications company owned by the Djarum Group, PT Sarana Menara Nusantara Tbk (TOWR), has obtained a term loan facility from MUFG Bank, Ltd. Jakarta Branch. The signing of the agreement was carried out on July 14, 2021.

TOWR's Corporate Secretary, Irfan Ghazali explained, the signing of the loan facility agreement was carried out through the company's subsidiary, PT Professional Telekomunikasi Indonesia (Protelindo), whose shares are 99.99 percent owned by the company. The total amount of the loan facility is USD 34.80 million or approximately IDR 504.60 billion.

"The purpose of the facility agreement is for the general purpose of the Protelindo company but is not limited to refinancing", said Irfan, in an information disclosure on the Indonesia Stock Exchange, quoted Wednesday, July 21.

The term of this loan facility is until July 14, 2025, according to the laws in force in the territory of the Republic of Indonesia. According to Irfan, there is no material impact on the operations, legal, financial condition, or business continuity of this credit facility agreement.

For information, TOWR recorded a net profit of IDR 789.23 billion in the first three months of 2021. In terms of net income, it was recorded at IDR 1.96 trillion with an operating profit of IDR 1.25 trillion.

In the first quarter of 2021, TOWR's total assets were recorded at IDR 36.71 trillion, consisting of liabilities of IDR 25.81 trillion and equity of IDR 10.87 trillion.