Jakarta - PT Krakatau Steel Tbk has fulfilled its tranche B debt settlement obligations of Rp2.7 trillion.

Thus, Krakatau Steel was able to complete the Working Capital Bridging Loan (WCBL) facility of US$200 million to three state-owned banks, PT Bank Mandiri Tbk, PT Bank Rakyat Indonesia Tbk, and PT Bank Negara Indonesia Tbk.

"Under the restructuring credit agreement, Krakatau Steel has paid the outstanding credit facility of US$200 million, which is due in December 2021," said Finance Director of Krakatau Steel Tardi in a statement on Monday (27/12).

After signing the restructuring agreement in January 2020, Krakatau Steel has paid debts of US$30.4 million (Rp437 billion) consisting of tranche A debt resulting from a debt restructuring agreement of US$17.4 million (Rp250 billion) and debt installments to Commerzbank US$13 million (Rp187 billion).

"So that in 2021, Krakatau Steel has paid a debt of  Rp3.2 trillion,"