PT SMI successfully obtained the offshore Sustainability-Linked Syndicated Term Loan Facility worth USD 700 million
Summary
JAKARTA, Indonesia, Sept. 13, 2023 /PRNewswire/ -- PT Sarana Multi Infrastruktur (Persero) ("PT SMI") has successfully completed the process of obtaining its first-ever, Sustainability-Linked Syndicated Term Loan Facility from a number of banking partners across geographies including Indonesia, Singapore, Japan, Hong Kong, Taiwan and South Korea. PT SMI engaged Environmental Resources Management ("ERM") as the second party opinion provider, to provide a review on the Key Performance Indicators (KPI) and Sustainability Performance Targets (SPT) for the transaction.To mark the completion of the landmark transaction, PT SMI held a closing ceremony at Sahid Sudirman Center, Jakarta, on Wednesday, September 13th, 2023. This Sustainability-Linked Syndicated Term Loan Facility is a real example of innovative fundraising, by also implementing our commitment towards sustainability target. This is a testament to the strong market confidence in PT SMI as a vital catalyst for the countrys national infrastructure goals. The ratings reflect the strong position of PT SMI as an essential government-related entity with enormous infrastructure financing potential, strong capitalization profile, and robust liquidity indicators poised to advance the GoIs national development agenda.PT Sarana Multi Infrastruktur (Persero) ("PT SMI") was established on February 26, 2009 as a State-Owned Enterprise under the coordination of the Ministry of Finance as a Non-Bank Financial Institution, with a role and mandate to act as a catalyst for the acceleration of infrastructure development.PT SMI has various functions and unique products/features to support the acceleration of infrastructure development which not only functions as an infrastructure financing but also as an enabler through the implementation of a Public Private Partnership (PPP) scheme, which includes various financial institutions, both private and multilateral.