TOWR Subsidiary Extends Rp500 Billion Credit Facility from QNB Bank

PT Sarana Menara Nusantara Tbk (TOWR) has announced its disclosure regarding the extension of a credit facility obtained by several of its subsidiaries. This step was taken through an amendment to the credit facility agreement with PT Bank QNB Indonesia Tbk.

In its disclosure to the Indonesia Stock Exchange (BEI), management stated that the company’s subsidiaries—PT Profesional Telekomunikasi Indonesia (Protelindo), PT Iforte Solusi Infotek (Iforte), and PT Iforte Energi Nusantara (IEN)—have signed an amended credit facility agreement with QNB.

The agreement represents a modification of the credit facility previously signed on 26 March 2024 with a total principal facility of Rp500 billion. Through this amendment, the parties agreed to extend the facility period until 26 June 2026.

Management explained that the borrowers are jointly and severally responsible for the performance of all obligations under the facility agreement.

The company also affirmed that this transaction is an affiliate transaction, given that the parties involved are controlled companies within one business group. However, the transaction does not constitute a conflict of interest transaction or a material transaction according to applicable regulations.

Furthermore, management stated that the implementation of this transaction does not cause any material negative impact on the company’s operational activities, financial condition, or business continuity.

For reference, Protelindo and Iforte are two of TOWR’s principal subsidiaries operating in the telecommunications infrastructure business, including telecommunications towers and fibre optic networks that support digital infrastructure expansion in Indonesia.