UT gives US$50m loan to subsidiary

By Romel S. Gurky

IDX listed firm PT United Tractors Tbk recently reported to have signed shareholders loan agreement amounting to US$50 million to wholly owned subsidiary PT Patria Maritime Lines on May 30.

The loan will be made in two tranches, US$42 million term loan facility valid for six years since the date of signing as Tranche A and US$8 million revolving loan valid for 15 months since the date of signing in Tranche B. The interest rate of both tranches facilities is 2.5 percent above Sibor

Editing by Er Audy Zandri