This credit facility is a syndication credit facility led by Natexis Banques Populaires, as agent, security trustee and book runner with Goldman Sachs LLC, PMA Investment Advisors and Standard Chartered Bank as Joint Mandated Lead Arrangers, and United Overseas Bank Ltd. as Lead Arranger.
This facility is the first loan to obtain a tenor exceeding 7 years from foreign banks achieved by Indonesian company and this certainly is a big attainment for Apexindo. Agustinus B. Lomboan, Finance Director of Apexindo explained, "We would like to thank the credible foreign banks as well as foreign investors, which have given their trust to Apexindo to obtain a very long term loan with competitive interest rates in supporting the growth and business development of the Company".
The Soehanah is able to immediately generate income since the rig has successfully secured a 3 years contract valued at US $170 million with Total E&P Indonesie. Therefore, the cash flow of this asset can immediately be attained which is subsequently utilized to repay the creditors timely or even sooner than scheduled.
Apexindo is an established company, with international reputation and continuously growing. As the commitment in managing the Company based on good corporate governance and accurate business strategy, it is an appropriate decision from bankers or other creditors to provide loans for Apexindo in the future.
Most Popular Articles