Antam Refinances Us$129 Million Corporate Investment Loan Through Loan Investment Facility From Bank Mandiri
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Antam Refinances Us$129 Million Corporate Investment Loan
Through Loan Investment Facility From Bank Mandiri
Jakarta, September 18, 2019 – PT ANTAM Tbk (ASX: ATM, IDX: ANTM, ANTAM) and PT Bank Mandiri (Persero) Tbk (IDX: BMRI, Bank Mandiri) are pleased to announce the both company has conducted cooperation in finance area through the signing of corporate investment loan agreement from Bank Mandiri to refinance ANTAM’s US$129 million investment loan which will mature on June 2024. ANTAM refinances its current loan with a similar loan provision and having more competitive annual floating interest rate.
ANTAM’s President Director, Mr. Arie Prabowo Ariotedjo and Corporate Banking Director of PT Bank Mandiri (Persero) Tbk, Mr Royke Tumilaar signed the investment loan agreement today, Wednesday, September 18, 2019 in Jakarta.
ANTAM's President Director, Arie Prabowo Ariotedjo said “ANTAM is currently focusing on the development of strategic downstream projects to enhance the added value of the Company’s main commodities of nickel, gold and bauxite. We are keen on strengthening the Company’s financial strength by implementing innovation to increase revenues, ensuring the ability to repay our debt and financing our sustainable growth initiatives. Inline with increased financial performance, we have received competitive interest rate for our loans, translating into reduction in our finance cost.”
Bank Mandiri’s Corporate Banking Director, Royke Tumilaar said the corporation in finance area between Bank Mandiri and ANTAM reflects both companies’ commitment to develop national interest through the synergy between the State Owned Enterprises.
“We are pleased to support ANTAM as one of the leading national mining company for its business development to meet the demand from national and international markets. We hope the synergy will enhance both companies’ contribution to the national economic growth,” said Royke.
The signing of the Investment Loan Agreement marks the support for the development of ANTAM’s programs and/or projects. ANTAM is currently developing strategic downstream projects such as, among others, the development of East Halmahera Ferronickel Plant Project in North Maluku which has annual production capacity of 13,500 tons of nickel of ferronickel and the Smelter Grade Alumina Refinery (SGAR) Development Project in Mempawah, West Kalimantan which will be developed together with PT Indonesia Asahan Aluminum (Persero) with a capacity of 1 million tons SGAR per annum (Stage 1).
About PT ANTAM Tbk
ANTAM is a leading natural resources based diversified and vertically integrated company with nickel ore, ferronickel, gold, silver, bauxite, coal, alumina and precious metal processing and refinery services as main products and services. With over 50 years of experience, ANTAM owns vast high quality high quality nickel and bauxite reserves. ANTAM’s Precious Metal Processing and Refinery Services is Indonesia’s only precious metal processing and refinery unit with London Bullion Market Association (LBMA) accreditation.
About PT Bank Mandiri (Persero) Tbk
Bank Mandiri is one of the leading banks in Indonesia with integration financial services to customers covering Corporate, Commercial, Micro, SME, Consumer Banking and Treasury segments. Bank Mandiri currently has subsidiaries to support its core business: Mandiri Sekuritas (capital market products and services), Bank Syariah Mandiri (sharia banking), Bank Mandiri Taspen / Mantap (Banking for MSMEs), AXA-Mandiri Financial Mandiri (life insurance), Mandiri InHealth (health insurance), Mandiri AXA General Insurance (general insurance), Mandiri Tunas Finance (autofinancing services), Mandiri Utama Finance (autofinancing services), Mandiri International Remittance (remittance), Mandiri Europe Limited (treasury & financial institution) and Mandiri Capital Indonesia (Venture Capital Financing).
As of June 2019, Bank Mandiri had 4,469 network offices, comprising of 2,624 branches and 1,845 micro network. The Bank Mandiri distribution service is also equipped with 18,291 ATMs, which are connected to ATM Link, ATM Bersama, ATM Prima and Visa/Plus, Electronic Data Capture (EDC) as well as e-banking networks which consist of Mandiri Online, SMS Banking and Call Center 14000.
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