Nusantara Infrastructure Group obtains syndicated loans of Rp1.54 T
This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Investor Daily: Grup Nusantara Infrastruktur Raih Kredit Sindikasi Rp1,54T
10 August 2018
By Devie Kania
Jakarta — PT Bosowa Marga Nusantara, a subsidiary of PT Marga Utama Nusantara (MUN), secured a syndicated loan of Rp1.54 trillion from a private bank and Bank Pembangunan Daerah (Regional Development Bank/BPD) with a tenor of 12 years. MUN is a subsidiary of PT Nusantara Infrastructure Tbk. (META) who owns up to 99.99% of its shares.
Bosowa Marga Nusantara (BMN) President Director Anwar Toha stated his office just received a syndicated loan from PT Bank Central Asia Tbk. (BCA) worth Rp1.31 trillion and from PT Bank Pembangunan Daerah Sulawesi Selatan dan Sulawesi Barat (Bank Sulselbar) around Rp230 billion. The fund form the syndicated loan will be earmarked for financing AP Pettarani elevated toll road project in Makassar.
“The company’s cooperation with BCA and Bank Sulselbar, we believe, can strengthen the financing structure for AP Pettarani elevated toll road construction, the first elevated toll road in Makassar. The banks’ financing becomes one of the ways of implementing a non-state budget infrastructure financing scheme or non-government budget investment financing (PINA),” said Anwar in his official statement, Thursday (9/8).
In the syndicated loan facility cooperation agreement, besides a creditor, BCA also acts as a joint mandated lead arrangers and book runners (JMLAB), facility agent, guarantee agent, and shelter agent. Further, both BCA and Bank Sulselbar agree to channel funds to BMN with a loan tenor of up to 12 years.
BCA EVP Group Corporate finance, Susiana Santoso claimed that her office has foreseen that the existence of AP Pettarani elevated toll road will contribute greatly to people’s mobility in Makassar. Therefore, BCA hopes the presence of the toll road will dissolve and control vehicle congestion.
“Then, aside from that, we also hope in the future AP Pettarani elevated toll road can be one of the new icons in Makassar City,” said Susiana.
Meanwhile, Bank Sulselbar President Director Andi Muhammad Rahmat explained that his office is proud to give contribution to South Sulawesi by participating in the syndicated loan for AP Pettarani elevated toll road. “As BPD, we hope the funding can strengthen our role in the construction of various infrastructures in South and West Sulawesi,” he mentioned.
The construction of AP Pettarani elevated toll road has begun since late April 2018. BMN along with the regional government initiated the toll road construction to dissolve traffic congestion and to build connectivity in the eastern region of Indonesia.
The elevated toll road construction, Anwar explained, aims to expand Ujung Pandang toll road section I & II, which connects Soekarno-Hatta Port (Makassar) and Sultan Hasanuddin Airport to business centres and urban areas.
To date, the construction progress has entered the construction stage, including cleaning project location area, widening road at the exit gate area of BMN toll road, and installing median concrete barrier (MCB) starting from toll area.
“In addition to those, we have also started project area widening, site office construction, separator removal, georadar implementation, and other technical work,” explained Anwar.
