PTPP Signs MRA for Debt Restructuring with Himbara Banks

PT PP (Persero) Tbk (PTPP) officially signed a Master Restructuring Agreement (MRA), or Credit Agreement, for the purpose of debt restructuring with several creditor banks on 10 September 2026. This information was disclosed by the Company in a disclosure to the Financial Services Authority (OJK) and the Indonesia Stock Exchange (BEI) on Thursday (11/9/2026).

This restructuring involves four state-owned banks as creditors/facility providers, namely PT Bank Mandiri (Persero) Tbk (BMRI), PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), PT Bank Negara Indonesia (Persero) Tbk (BBNI), and PT Bank Syariah Indonesia Tbk (BRIS).

In addition to being one of the creditors, Bank Mandiri also acts as the Facility Agent that signed the MRA.

The Company explained that this transaction is classified as an affiliated transaction, given that both PTPP and the four creditor banks are State-Owned Enterprises (SOEs) whose shares are owned by the Government of the Republic of Indonesia and PT Danantara Asset Management. The government and Danantara Asset Management’s shareholding in PTPP is recorded at 51.00%.

The Company emphasised that the MRA will only become effective following the implementation of a General Meeting of Shareholders (RUPS) and the fulfilment of several other conditions set out in the agreement.

Business and Financial Transformation

PTPP management explained that this restructuring is part of the Company’s business and financial transformation, which aims to maintain business continuity, improve operational and financial performance, and strengthen the Company’s ability to settle all its obligations to creditors.

“With the signing of this MRA, it is expected to have a positive impact on the ongoing financial restructuring process, as well as on the business continuity and financial condition of the Company in the future,” management wrote in the disclosure.

The Board of Commissioners and Directors of PTPP also stated that after careful review, the information provided does not contain any untrue or misleading statements. The Company further emphasised that this transaction is an exempted affiliated transaction as referred to in POJK 4lar/2020, as well as an exempted material transaction as referred to in POJK 17/2020.