A telecommunication tower provider PT Sarana Menara Nusantara Tbk (TOWR), via its wholly owned subsidiary dubbed PT Profesional Telekomunikasi Indonesia (Protelindo), has secured US$250 million loan facilities from 4 commercial banks.
Protelindo has entered into loan agreements on May 3 with DBS Bank Ltd, Oversea-Chinese Banking Corporation Ltd, Standard Chartered Bank, and The Royal Bank of Scotland N.V., Hong Kong branch, said Sarana Menara Corporate Secretary Haryo Dewanto in a statement.
However, Protelindo has yet disclosed the facility usage. Along with the loan agreement, The Royal Bank of Scotland is also acting as the facility agent and PT Bank Central Asia Tbk as the common securit agent.
In December last year, Sarana Menara's controlling shareholders dubbed PT Tricipta Mandhala Gumilang (TMG) and PT Caturguwiratna Sumapala (CGS), both are affiliated of Djarum Group, disposed the shares of Sarana Menara through private placement at Rp12,000 per share or Rp4.76 trillion deal.
Post the private placement, the share ownership of TMG and CGS in Sarana Menara decreased from 89% to 50.1%. During such corporate action, Credit Suisse and CLSA acted as the selling agent of Sarana Menara.
Martin Basuki Hartono is President Commissioner at Sarana Menara. Martin Basuki is son of Robert Budi Hartono (first generation of Djarum family with Michael Bambang Hartono). Martin Basuki has two brothers Victor Hartono and Arman Budi Hartono.
Disclosure: No position at the stock mentioned above.
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