ABM Investama Refinances US$ 358.11-million Loan
Jakarta, 24 October 2016 | Amid a highly dynamic business climate in the energy sector, PT ABM Investama Tbk (ticker code : ABMM) successfully secured a US$ 358.11 million loan from a syndication of national and international banks. The Company has received a loan facility, which became effective on October 24, 2016 by involving the syndicated banks, i.e. Oversea-Chinese Banking Corporation Limited, DBS Bank Ltd., PT Bank OCBC NISP Tbk, PT Bank ANZ Indonesia and PT Bank Mandiri Tbk, Singapore Branch by involving the syndicated banks, i.e. Oversea-Chinese Banking Corporation Limited, DBS Bank Ltd., PT Bank OCBC NISP Tbk, PT Bank ANZ Indonesia and PT Bank
Mandiri Tbk, Singapore Branch.
The term loan facility is set to mature on January 22, 2021 and payment installments would be completed over a trimester period for 18 times. Furthermore, ABM Investama will be using this new loan to pay off the company’s debts.
ABM Investama President Director Achmad Ananda (Andi) Djajanegara said that the credit facility from the international and national financial institutions is testament to the strong trust in ABM Investama and its business prospects.
“We would like to express our gratitude to our partners for their trust and support for ABM Investama. Through this refinancing, we hope that the company can be more efficient in running our business, allowing us to optimize our performance,” said Andi in Jakarta.
Andi added that the efficiency measures that the company has undertaken since 2014 have had a positive impact on ABM. Aside from the continuously declining operating costs, a more disciplined and efficient loan management has provided ABM with a room to improve its business ventures.
By the end of Q2 2016, ABM successfully posted US$ 5.64 million in net profit for the period, 271 percent growth compared to the same period in 2015 with US$ 1.52 million.
“The new loan with the longer tenors will allow the company to manage our capital in a healthier manner. With increasingly stronger fundamentals and coal price trends that continue to improve, we are confident that we are on the right track, strategically-speaking,” Andi reiterated.