PT Surya Esa Perkasa Tbk (ESSA) announced the success of refinancing a long-term loan facility at its subsidiary, PT Panca Amara Utama (PAU).

Syndication consisting of local and international banks arranged the US$495 million term loan facility.

"We are proud to announce the successful refinancing of our long-term obligations at PAU through this new facility. This facility will enable PAU to have a leaner and more solid financial structure and free up debt at the parent company level, "said ESSA President Director Vinod Laroya in a press release on Tuesday (30/3).

He believes that this new loan facility will strengthen the company's financial position, especially in times of uncertainty.

"We also thank all stakeholders for their support so far," he added.