PT Gajah Tunggal Tbk (GJTL) obtained a syndicated loan from PT Bank Centra Asia Tbk (BBCA), PT Bank Permata Tbk (BNLI), and PT Bank KEB Hana Indonesia worth Rp1.325 trillion.

The drawdown of the credit facility was made on March 30, 2021. This new credit facility is based on an agreement dated February 26, 2021, whereby BCA acts as the mandated lead arranger and book runner.

The company will use the loan facility to pay early the remaining loan from its syndicated loan to PT Bank QNB amounting to US$78,750 million and IDR 200,325 billion, which will mature in stages in 2022.

"By obtaining this new credit facility, it is hoped that it can have a positive impact in the long term, namely helping the company's liquidity and reducing the fluctuation of foreign exchange influences which will affect the company's profit and loss," said Gajah Tunggal's Finance Director, Kisyuwono in an official statement, Thursday (1 / 4).

The company expects the new credit facility with a 7-year tenor to improve its financial performance.