The Hartono Brothers Conglomerate Djarum Group Gets A IDR 1.43 Trillion Loan From BTPN, What For?

JAKARTA - The tower company from the Djarum Group, PT Solusi Tunas Pratama Tbk (SUPR) obtained a loan facility of 100 million US dollars or approximately IDR 1.43 trillion from PT Bank BTPN Tbk (BTPN). The loan will be used by the issuer of the Hartono Brothers conglomerate to support the general needs of its parent company, PT Professional Telekomunikasi Indonesia (Protelindo).

SUPR A Corporate Secretary Ardityo Budi Susetiatmo said that Protelindo as the borrower and BTPN as the lender had signed a facility agreement on March 30, 2022.

"The loan amount is 100 million US dollars to support the needs of the company Protelindo with a term of 84 months from the date of initial withdrawal," said Ardityo in a written statement, quoted Monday, April 4.

In addition to signing the facility agreement, in the transaction which took place on March 30, 2022, a corporate guarantee agreement was also signed between BTPN as the guarantee recipient and PT Iforte Solusi Infotek and SUPR as the guarantor.

Thus, as a subsidiary of Protelindo, both Iforte and SUPR will act as guarantor of Protelindo's obligations in relation to the facility agreement. The value of the company's underwriting is 80 percent or more than 50 percent of the company's equity of IDR 1.86 trillion as of September 30, 2021.

The company guarantee is a material transaction that is excluded because it is a guarantee to the bank. Meanwhile, the signing of the company guarantee by Iforte and the company is an affiliated transaction.

According to Ardityo, the lending structure with the concept of providing coverage by Iforte and SUPR will allow Protelindo to obtain financing with better terms and conditions.

The reason, he said, was that it would be impossible to achieve the guarantee agreement if Iforte and the Company were not affiliated parties. Therefore, he hopes that the provision of this facility can support Protelindo's business activities which on a consolidated basis will also have a positive impact on SUPR.

Previously, the company had budgeted for capital expenditure (capex) in 2022 of around IDR 700 billion, which is planned to be focused on developing the core business this year.

President Director of SUPR Juliawati Tbk Gunawan Halim said this year's capital expenditure budget will be used to increase the number of towers to 400 towers and 600-700 tenants. Until the end of December 2021, the company has around 6.900 towers and 12.800 tenancy.