JAKARTA (Yosefardi) – PT Media Nusantara Citra Tbk (MNCN) will take syndicated loan of US$250 million next week, while the agreement will be signed this week.
The loan has tenor of 3 years, used to fund office and studio establishment project. The company plans to build 4 new buildings which cost US$250 million and to refinance its short term loan worth US$10 million.
As of June 2014, MNCN’s liability totaled Rp1.59 trillion, of which short term liability accounted for Rp1.31 trillion.
The company targets to book revenues from advertising of Rp6.6-6.8 trillion by end of this year, a 16-20% growth compared to Rp5.72 trillion last year.