SWID secures loan facility of IDR 175 billion

JAKARTA - PT Saraswati Indoland Development Tbk (SWID) obtains a loan facility worth IDR 175 billion from PT Bank Mandiri (Persero) Tbk (BMRI) yesterday (10/7). Said facility will be used for investment purposes to promote the company’s strategy.

Agung Cucun Setiawan, Director of Business Development of SWID, revealed that the facility consists of Tranche A of IDR 79 billion and Tranche B of IDR 96 billion with an interest rate of 7.75% per annum. The term for Tranche A is set to 72 days, including an availability period of 1 month, while Tranche B’s term is 72 months with an availability period of 12 months.

The guarantee for said facility consists of deed of rights of building, land, and a Ballroom owned by the company, a strata-title with 45 hotel rooms, machinery equipment, as well as a personal guarantee on behalf of Noegroho Hari Hardono, and a corporate guarantee and cash deficit guarantee of PT Dupan Anugerah Lestari.

All insurable collaterals are required to be insured by insurance companies partnered with BMRI. (LK/ZH)