/2017/08/02/441744075p.jpg)
CORPORATE ACTION – JAKARTA. A subsidiary of PT Energi Mega Persada Tbk (ENRG), namely EMP Bentu Limited, has received a loan with a total value of up to US$ 150 million. This loan was signed on November 30, 2023.
In a disclosure of information on the Indonesia Stock Exchange, Tuesday (1/6), this loan was disbursed by several parties, including Deutsche Bank AG, Singapore Branch, Indies Special Opportunities III Ltd, and Indies Special Opportunities IV Ltd.
This loan carries an interest rate of 5.5% + secured overnight financing rate (SOFR) for a 1-month term, per year. The final repayment date of this loan falls on December 3, 2027.
For this loan, ENRG, PT Tunas Harapan Perkasa (THP) and PT Imbang Tata Alam (ITA) act as guarantors. PT Tunas Harapan Perkasa (THP) and PT Imbang Tata Alam (ITA) are affiliate companies of ENRG.
Read Also: Waskita Karya Book New Contracts IDR 16.9 Trillion in 2023
There are several things that guarantee this loan. First, the guarantee of EMP Bentu, Imbang Tata Alam and ENRG accounts in Singapore (account charge agreement). Second, the pledge of EMP Bentu and Imbang Tata Alam accounts in Indonesia (pledge of bank account).
Third, mortgage of shares owned by PT Tunas Harapan Perkasa in EMP Bentu. Fourth, pledge of ENRG and PT Tunas Harapan Perkasa shares in Imbang Tata Alam. Fifth, mortgage of shares owned by ENRG in Energi Mega Pratama Inc.
Sixth, fiduciary guarantee on receivables of EMP Bentu, Imbang Tata Alam, and ENRG. Seventh, conditional transfer of EMP Bentu and Imbang Tata Alam and the guarantee agreement of EMP Bentu.
This loan is an affiliate transaction because PT Tunas Harapan Perkasa and PT Imbang Tata Alam provide corporate guarantees for EMP Bentu. EMP Bentu is a controlled subsidiary whose shares are 99% owned, both directly and indirectly, by ENRG.
This loan is also a material transaction because it has a value of 29.13% of ENRG's equity as of December 2022.
