Jakarta - PT Medco Energi Internasional Tbk (MEDC) issued a corporate guarantee for Medco Energi Global Pte Ltd (MEG) worth US$65.5 million in connection with banking facilities obtained by MEG.

MEDC Director Anthony R Mathias said that the banking facility in the form of a bank guarantee or standby letter of credit received by MEG from the Singapore branch of ING Bank NV was used for the acquisition.

"This guarantee comes into effect from 27 December 2021 until the closing date of the acquisition transaction by MEG," the IDX information disclosure in Jakarta on Thursday (30/12).

He assessed that the guarantee would not interfere with the company's operational activities and business continuity.