Soechi Lines obtains $180 million loan
Friday, August 19 2016 - 01:43 PM WIB
By Ruli Setiawan
IDX-listed shipping company PT Soechi Lines Tbk announced Friday that it has obtained a US$180 million loan facility from lenders Standard Chartered Bank and PT Bank Mandiri Tbk.
The company said in a filing with the Indonesia Stock Exchange that the 5-year loan facility will be used to refinance debts, and to help finance capital expenditure and working capital of the company and its subsidiaries.
Soechi said that the lending agreement was signed on August 16 by the company, its subsidiaries and the lenders.
The subsidiaries include PT Armada Bumi Pratiwi Line, PT Armada Maritime Offshore, PT Inti Energi Line, PT Multi Ocean Shipyard, PT Putra Utama Line, PT Sukses Maritime Line, PT Sukses Osean Khatulistiwa Line, and PT Selaras Pratama Utama.
Soechi Lines is an Indonesia-based company primarily engaged in marine transportation. It owns and operates various types of vessels, including oil tankers, chemical tankers, gas carriers as well as floating, storage and offloading (FSO) carriers.
Editing by Reiner Simanjuntak