WIKA Receives Loan Syndication Rp 5 Trillion for Infrastructure Projects

JAKARTA - PT Wijaya Karya (Persero) Tbk. (WIKA) signed a syndicated loan agreement with eight banks worth a total of Rp 5 trillion in WIKA Head Office, Jakarta, Wednesday (15/3). The agreement was signed by Finance Director of the Company, A.N.S  Kosasih and Director of Operations I, Gandira Gutawa Sumapradja and witnessed by the President Director WIKA, Bintang Perbowo.

The syndicated credit facility will be used as working capital loans for infrastructure projects which handled by WIKA, namely: Highway Development Project Balikpapan - Samarinda and Highway Development Project Soreang - Pasir Koja with tenor payback period for three years.

"The signing of the syndicated loan today must be a good start for WIKA and all the banks that helped in providing loans, in order to realize the construction of infrastructure in line with nawacita program from government within the big scope also plays a role in turning the wheels of the national economy," said President Director of PT Wijaya Karya, Bintang Perbowo, as reported from pressrelease.id (16/03/2017).

Finance Director Wijaya Karya, A.N.S. Kosasih added that after the signing of the syndicated loan, the Company will then immediately follow up by issuing bonds of the Company for the first time.

"We are targeting the issuance of bonds amounting to at least 5 trillion to 10 trillion rupiah with a minimum period of 5 years to 10 years. WIKA has also earned an excellent Company rating from one of the international rating agencies where WIKA ranked far above similar firms in the industry. We are confident that we will get a rating of the bonds at least equal or better yet," said Kosasih.

The details of each amount of syndicated bank credit are:

No.  Bank                                                      Amount (Rp)

1. The Bank of Tokyo-Mitsubishi UFJ, Ltd.: 1.000.000.000.000

2. PT Bank Maybank Indonesia: 900.000.000.000

3. Bank of China Limited: 900.000.000.000

4. PT Sarana Multi Infrastruktur (Persero): 900.000.000.000

5. PT Bank Mizuho Indonesia: 375.000.000.000

6. PT ICBC Indonesia: 375.000.000.000

7. PT Bank BNP Paribas Indonesia: 300.000.000.000

8. PT Bank CTCB Indonesia: 250.000.000.000 

Total Rp 5.000.000.000.000