MDKA – A IDR2.62 tn loan for subsidiary

MDKA – A IDR2.62 tn loan for subsidiary Merdeka Cooper (MDKA) will provide a IDR2.62 tn loan to its subsidiary, Pani Bersama Jaya (PBJ), which it will be used for capital and operational needs, working capital and other needs. The loan is under the agreement to 3 months SOFR interest plus a margin of 5.76% per annum with a maturity date in the 5th year from the effective date of the agreement. Note that, MDKA acquired PBJ in 2018. Previously, MDKA had provided loans to Merdeka Battery Materials (MBMA) worth IDR1.55 tn for general corporate needs. (Source: Bisnis Indonesia) Comment: We are positive on the news, this marks a significant step forward for the Pani gold project.