TBS Energi Secures Syndicated Loan of Up to SGD385 Million for Green Transformation

Energy company PT TBS Energi Utama Tbk (TOBA) has obtained a loan facility worth up to SGD385 million from a group of international banks. The facility, disclosed on Wednesday, consists of a term loan of up to SGD345 million and a revolving loan of up to SGD40 million, provided to TBS subsidiaries Cora Environment Group Pte. Ltd., SBT Invest Pte. Ltd., and Taonga Holdings Pte. Ltd. DBS Bank Ltd. acted as the coordinating bank, mandated lead arranger, and bookrunner. Other participating lenders include Bangkok Bank Public Company Limited, Bank of China Limited, Natixis, and Societe Generale. Corporate Secretary Pingkan Ratna Melati stated that the transaction is part of the group’s strategy to optimise its financing structure. The company expects the new scheme to improve cost efficiency, extend financing tenors, and provide greater flexibility in managing financial obligations to support sustainable business growth. The funds will be used to repay existing loan facilities of SBT Invest and Taonga, as well as to finance working capital and capital expenditure for SBT Invest and its subsidiaries. The move supports TBS Energi’s aggressive portfolio transformation from a coal-based business to one centred on sustainability, including waste management, renewable energy, and electric vehicles. In the first quarter of 2026, the company’s revenue rose 20.6% year-on-year to US$86.3 million, with the waste management segment contributing 60.2% of total revenue, surpassing coal’s 34.2% contribution.