Merdeka Battery provides USD 100m loan to subsidiary
Fri 02 Feb 2024, 08:00 AM
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PT Merdeka Battery Materials Tbk. (MBMA) made an affiliate transaction with PT Merdeka Industri Anantha (MIA) by providing a USD 100 million loan. The transaction will take place on January 22, 2024.
PT Merdeka Industri Anantha (MIA) is a subsidiary with 99% of the shares owned by MBMA.
Citing from the information disclosure of the Indonesia Stock
Exchange (IDX), the loan is to support MIA's business activities by
providing debt, depositing capital, and/or downpayment of capital deposits.
"The company and MIA have agreed that we provide a USD 100,000,000 loan." MBMA management wrote on Wednesday
(24/1).
For every outstanding financing provided by the Company to
MIA interest is subject to the sum of the Secured Overnight Financing Rate and
4.75% per annum.
With the implementation of this transaction, MBMA will experience a positive impact, which in turn can create added value for the
Company's shareholders indirectly.
The transaction has also been assessed using internal
procedures with the same terms and conditions if the transaction is carried out
with an unaffiliated party so that the terms and conditions of the transaction
are carried out in accordance with generally accepted business practices.
Image source: Bisnis.com
Source: www.cnbcindonesia.com/Merdeka Battery (MBMA) Beri Pinjaman ke Anak Usaha US$ 100 Juta
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