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PT Krakatau Steel Restructures USD 2 Billion Loans-2020 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
3/2/2020 钣金展-激光展- Laser expo, Sheet Metal Industry expo |
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Indonesian state owned steelmaker PT Krakatau Steel has received approval from its creditors to restructure its loans totaling USD 2 billion by, among other changes, rescheduling repayment to 2027 in order to be able to revive its business. Krakatau Steel president director Silmy Karim said that the debt restructuring would cut interest payments to USD 466 million from USD 847 million and cut costs by around USD 685 until 2027. He said “We have delivered on one of the minister’s key performance indicators.”
The debt restructuring agreements with 10 local and foreign banks were signed in stages from September 30, 2019 to January12. The creditors are Bank Mandiri with total loans of USD 618.29 million, Bank Negara Indonesia with USD 425.92 million, Bank Rakyat Indonesia with USD 337.39 million, ICBC Indonesia with USD 44.27 million, Exim Bank LPEI with USD 79.83 million, Bank Central Asia with USD 48.69 million, Bank DBS Indonesia with USD 48.62 million, Bank OCBC NISP with USD 138.66 million, Standard Chartered Bank with USD 25.62 million and CIMB Niaga with loans USD $238.34 million.
The reorganization could save the country’s largest steelmaker from bankruptcy.
钣金展-激光展-2020年第二十一届广州国际激光设备及钣金工业展
-2020 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
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