Bank Mandiri, BNI, And BRI Give Total Credit Of IDR 8.08 Trillion To Waskita Karya

Illustration. (Photo: Doc. Waskita Karya)

JAKARTA - PT Waskita Karya (Persero) Tbk (WSKT) signed a syndicated loan agreement from three state-owned banks, namely PT Bank Mandiri (Persero) Tbk (BMRI), PT Bank Negara Indonesia (Persero) Tbk (BBNI), and PT Bank Rakyat Indonesia. (Persero) Tbk (BBRI).

Waskita Karya's Director of Finance and Risk Management, Taufik Hendra Kusuma, said this working capital credit facility is revolving transactional provided by syndicated creditors for WSKT. The credit facility is obtained by the company with government guarantees in the context of implementing the national economic recovery program.

"The principal amount is IDR 8.08 trillion", said Taufik in an information disclosure on the Indonesia Stock Exchange website, quoted on Thursday, October 28.

The sublimit of the credit syndication is non-cash loans in the form of letters of credit (LC) or domestically documented letters of credit (SKBDN) or standby letters of credit (SBLC). The non-cash credit facility is called a non-cash loan of Rp6.27 trillion. Second, supplier financing up to IDR 6.27 trillion.

The purpose of using the credit facility is as working capital and for project implementation in the context of national economic recovery.

"With the syndicated credit agreement with the KMK guarantee facility, it will increase Waskita's working capital capacity in completing ongoing projects and can improve the company's performance", said Taufik.