Jakarta –
PT Krakatau Steel (Persero) Tbk has fulfilled its debt settlement obligations of Tranche B of Rp 2.7 trillion. That way, the company was able to complete the Working Capital Bridging Loan (WCBL) facility of US$ 200 million to three state-owned banks, namely PT Bank Mandiri (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk and PT Bank Negara Indonesia (Persero) Tbk.
Krakatau Steel’s Finance Director Tardi said this debt will mature in December 2021.
“In accordance with the restructuring credit agreement, Krakatau Steel has paid the outstanding credit facility of US$ 200 million which is due in December 2021,” he said in an official statement, Monday (12/27/2021).
After signing the restructuring agreement in January 2020, Krakatau Steel has paid debts of US$ 30.4 million (Rp 437 billion) consisting of Tranche A debt resulting from a debt restructuring agreement of US$ 17.4 million (Rp 250 billion) and installments debt to Commerzbank US$ 13 million (Rp 187 billion).
Thus, in 2021 Krakatau Steel has paid its debt of IDR 3.2 trillion.
Tardi said the source of the money to pay the debt came from the company’s internal sources. This is because the company’s performance is getting better after the restructuring.
“The source of this debt payment is obtained from the company’s internal cash flow for the results of Krakatau Steel’s performance which is getting better after the restructuring,” added Tardi.
Furthermore, Tardi said that with all the efforts that have been made by the management so far and with the support of the Ministry of SOEs, the performance of KS in the future will be even better.
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