PermataBank Leads Syndication of Credit Facilities to TRUE Finance

JAKARTADAILY.ID - PT Bank Permata TBK ("PermataBank") became the Mandated Lead Arranger and Bookrunner (MLAB) in the formation of a Syndicated Credit Facility provided to PT Tirta Rindang Unggul Ekatama Finance ("TRUE Finance") amounting to a maximum of Rp450 billion.

Together with five other banks, PermataBank formalized this syndication through the signing of the Syndicated Credit Agreement on Monday, August 28, 2023, in Jakarta.

This Credit Facility cooperation is PermataBank's commitment to participate in supporting national economic growth and recovery through support in lending to the public.

PermataBank Director, Herwin Bustaman said, he appreciated True Finance's trust in PermataBank to lead and manage this syndication.

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According to him, the Company sees that True Finance has managed to survive and record positive financial performance during the pandemic and that the post-pandemic financing industry will continue to grow.

"This collaboration is also PermataBank's commitment to our efforts as a universal bank in providing products and services to all segments across generations. We also thank all the national banks that participated in this syndication," Herwin said in a written statement, on Monday, August 28, 2023.

In this Credit Facility, PermataBank acts as a Mandated Lead Arranger and Bookrunner (MLAB), Facility Agent, and Collateral Agent. Other creditors participating in this Syndicated Credit include AlloBank, Bank Papua, Bank Jateng, Bank Sulselbar, and Bank Bengkulu.

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President Director of TRUE Finance, Ronny Effendy, expressed his gratitude for PermataBank's support for this credit facility cooperation agreement.

"The trust given by PermataBank is a very big support during the current economic recovery, especially for TRUE Finance which is engaged in vehicle financing and always strives to provide the best service and reach more consumers in Indonesia," he said.

He added, TRUE Finance set a sales target for 2023 of 1.5 Trillion with a focus on financing commercial/commercial type four-wheeled motorized vehicles and used passenger vehicles, which began to stretch again after the Covid-19 pandemic period".

"TRUE Finance's business performance up to Semester I 2023 is very promising where financing receivables grew 58 percent and the achievement of assets of nearly 2 trillion (up 25 percent Yoy)," he concluded. (***)