JAKARTA (Indonesia Today) – Oil and gas services company PT Elnusa Tbk (ELSA) has secured non-cash loan facility of US$20 million from Bank Rakyat Indonesia (BRI) Tbk (BBRI).
Fajriyah Usman, ELSA’s vice president for corporate secretary, said today that the facility offers interest of between 0.25% to 0.75% per year, allows the company to cut interest rate on the existing loan.
Elnusa may use the facility as guarantee in all of the company’s or subsidiaries’ participation in tender related to oil and gas companies.
The non-cash facility can also be used as collateral in the procurement of equipments and spare parts to supports the company’s oil and gas services at home and abroad.
Elnusa provides geoscience services, drilling services, and oilfield services. Its main clients include Pertamina, Total Indonesie, Chevron, Medco, and Vico Indonesia. (hans@theindonesiatoday.com)