R.E.A. Holdings plc: Statement re bank financing (1211378)
June 24 2021 - 1:00AM
UK Regulatory
R.E.A. Holdings plc (RE.)
R.E.A. Holdings plc: Statement re bank financing
24-Jun-2021 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014
(MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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R.E.A. Holdings plc ("REA" or the "company")
Statement re bank financing
REA is pleased to announce that discussions between its subsidiary, PT REA Kaltim Plantations ("REA Kaltim"), and the
group's Indonesian bankers, PT Bank Mandiri (Persero) Tbk ("Mandiri") have been successfully concluded with an
agreement that the Indonesian rupiah denominated loan and working capital facility currently provided by Mandiri to REA
Kaltim will be replaced with two new loans and a new working capital facility, denominated in Indonesian rupiah.
Completion of this agreement remains subject to satisfaction of a number of technical conditions and is expected to
occur within a few weeks.
The outstanding principal amount of the existing Mandiri loan to REA Kaltim is Rp 868 billion (USD60.4 million),
repayable over five years, while the replacement loans will together amount to Rp 1,170 billion (USD81.4 million),
repayable over eight years. The working capital facility will be reduced from Rp 70 million (USD4.9 million) to Rp 30
million (USD2.1 million). Security for the new loans and working capital facility will be similar to that for the
existing loan and working capital facility (and will include a continuing guarantee from REA). The interest rate on
the new loans and working capital borrowings will be fixed on drawdown but should be no higher than the interest rate
of 10 per cent per annum payable on the existing term loan and working capital borrowings.
Proposals for replacement of the existing Mandiri term loan to REA's subsidiary, PT Sasana Yudha Bhakti continue to
advance through the bank's approval process.
Enquiries:
R.E.A Holdings plc
Tel: 020 7436 7877
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ISIN: GB0002349065
Category Code: MSCH
TIDM: RE.
LEI Code: 213800YXL94R94RYG150
Sequence No.: 113201
EQS News ID: 1211378
End of Announcement EQS News Service
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