PT Sarana Menara Nusantara Tbk (TOWR), through its subsidiary PT Profesional Telekomunikasi Indonesia, signed a revolving loan credit agreement with PT Bank Maybank Indonesia Tbk a ceiling of Rp500 billion on February 19, 2021. The credit agreement has a maturity date of February 19, 2022

"The purpose of the credit agreement is to support the working capital needs of Protelindo and PT Iforte Solusi Infotek," said TOWR Corporate Secretary Irfan Ghazali in an information disclosure submitted to the IDX on Wednesday (24/2).

He added that Protelindo and Iforte have joint responsibilities in connection with the credit agreement. Protelindo, which holds 99.99% shares of Iforte, can be jointly and severally responsible for the obligations of Iforte in its capacity as a corporate entity or a debtor so that Iforte can also use the loan facility.

"Providing loans with this concept is expected to support Iforte and Protelindo's business activities, as well as on a consolidated basis will also have a positive impact on the company," he explained.