PT Harum Energy Tbk (HRUM) withdrew a syndicated loan worth US$69 million.

This syndicated loan comes from DBS Bank Ltd, United Overseas Bank Limited, Oversea-Chinese Banking Corporation Limited, The Bank of Tokyo-Mitsubishi UFJ Ltd (Singapore Branch), PT Bank ANZ Indonesia, and The Bank of Tokyo-Mitsubishi UFJ Ltd (Jakarta Branch).

The company obtained the syndicated loan on December 30, 2011, with a total amount of US$270 million. However, the syndicated loan value and tenor fluctuated.

The final agreement was that Harum Energy would extend the loan facility until June 30, 2023, and reduced the maximum loan amount to US$125 million. The interest rate for this loan is set at Libor + 2.18% per annum (offshore) and Libor + 2.38% (onshore).

"The loan is used to finance the acquisition of 24.5% stake in PT Infei Metal Industry," said Harum Energy President Director Ray Antonio Gunara in a press release on Wednesday (7/4).

In early 2021, Harum Energy realized two nickel mining acquisitions, namely taking over 51% or 24,287 shares of the nickel mining company PT Position for US$80.32 million and acquiring 24.5% or 259,603 shares of the nickel mining company PT Infei Metal Industry. with a value of US$68.6 million.

After the acquisition, the company will not make any further acquisitions soon.

"However, the company will continue to explore other nickel mine acquisition opportunities to increase the number of resources it can manage," he added.