On December 19, 2016, PT Triaryani, subsidiary of PT Golden Eagle Energy Tbk (the “Company”), has signed a revised loan agreement with PT Bank Permata Tbk, with details as follows:
1. For the Term Loan facility
– the term of payment for the facility which initially due on March 8, 2019, was extended up to December 31, 2021;
– Restructuring of the installment for the facility where the quarterly value of the principal obligation is starting at approximately USD 24 thousand and IDR 122 million,
and will gradually increase up to December 31, 2021; and
– The reduction in interest rates to 5.50% p.a for facilities in USD, and 11.00% p.a for facilities in the currency IDR
2. For the Revolving Loan facility, the interest rate was reduced to 11.00% P.A.
With the existence of this restructuring, PT Triaryani have the flexibility to optimize the available funds for its operations in order to support the sustainability of the business, and thus will ultimately have a positive impact on the Company also.