PT TBS Energi Utama Tbk (TOBA) and its subsidiaries, namely PT Indomining, PT Trisensa Mineral Utama, PT Toba Bumi Energi, PT Toba Bara Energi and PT Batu Hitam Perkasa signed the Deed of Credit Agreement number 101 with PT Bank Mandiri (Persero) Tbk.

This credit agreement is a loan facility agreement with a term of five years, and the value of the loan facility is US$120 million.

"The loan proceeds will be used to pay off syndicated corporate loans, facility fees and general corporate purposes," said TOBA President Director Dicky Yordan on Thursday (1/7).

Dicky ensured that the board of directors, board of commissioners, and significant shareholders of TBS Energi had no affiliation with the directors, board of commissioners, and significant shareholders of Bank Mandiri.

"The signing of this credit agreement does not affect operational activities that are currently running and in the long term will strengthen TOBA's financia