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ABM Investama Undergoes Financing Consolidation for up to US$ 450 Million


Jakarta, 18 December 2013 – PT ABM Investama Tbk (IDX Stock Code: “ABMM”), an integrated energy company, undergoes a financing consolidation amounted up to US$ 450 million. By signing the financing agreement with 3 international banks and 1 state-owned bank, the company will obtain more efficient cost of funds in order to support growth of its subsidiaries.

"The financing consolidation will increase ABMM’s ability to improve its cash flows, as this strategy will increase the company’s solvability and reduce our exposure to borrowing risk,” Andi Djajanegara, President Director of PT ABM Investama Tbk, said.

He added that the financing consolidation will be applied to all of subsidiaries, excluding PT. Sumberdaya Sewatama (“SS”) which has listed its bonds in the IDX.

ABMM signed term loans and working capital facilities amounted up to US$ 450 million with the OCBC Group (OCBC Bank Singapore and PT. Bank OCBC NISP, Tbk), DBS Bank Singapore, PT. Bank ANZ Indonesia and PT. Bank Mandiri (Persero) Tbk. This 5-years loan has a grace period for principal payments for the first 2 years.

“This clearly benefits us, in addition to favorable interest rate, we also obtain 2 years of grace period to reduce cost of funds and support our cash flows for the upcoming years,” Andi Djajanegara added.

“We appreciate the international and state-owned banks’ trust on ABMM. They trust our performance and growth prospects for the next 5 years,” he concluded.