Jakarta - PT Sinar Mas Multiartha Tbk (SMMA) provided a working capital loan to PT Shinta Utama worth Rp1.1 trillion.

"This loan is through a perpetual loan mechanism," said SMMA Director Dani Lihardja in an information disclosure on Wednesday (10/26).

He continued this perpetual loan does not have a loan interest feature and an unspecified time period. Later, it will be recorded as company equity.

"Later, loan payments will be made in stages," he continued.

This loan facility is in accordance with the plan to use the proceeds from the public offering of Sinar Mas Phase III 2022 Sustainable Bonds II.