Business Development, Dian Swastatica (DSSA) Pockets USD150 Million Loan

PT Dian Swastatica Sentosa Tbk (DSSA) signed a term loan facility agreement with PT Bank Mandiri Tbk (BMRI) and PT Bank Woori Saudara Indonesia 1906 Tbk (SDRA) with a ceiling of USD 150 million.

The 60-month term loan is guaranteed by the company's assets. The loan funds will be used for business development of the company and its subsidiaries. Corporate Secretary Dian Swastatica Susan Chandra said the loan facility resulted in the company's debt-to-equity ratio increasing to around 8 percent. Previously, the Sinarmas Group, Dian Swastatica through its subsidiary, Stanmore SMC Holdings Pty Ltd, obtained a syndicated loan of USD625 million from several financial institutions. This loan facility was used to fund the planned acquisition of all shares of Dampier Coal (Queensland) Pty Ltd. Previously, PT Dian Swastatica Sentosa Tbk through its subsidiary Golden Energy and Resources Limited (GEAR) acquired 80% shares of BHP Mitsui Coal Pty Ldt (BMC) with a transaction value of USD1.35 billion or equivalent to Rp19.17 trillion assuming an exchange rate of Rp14. 200 per US dollar.
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