The publicly-listed airline received a $50 million short-term loan from the bank with an interest rate based on the one month London Interbank Offered Rate plus 2.85 percent per annum, the company said in a statement posted on the Indonesia Stock Exchange website on Tuesday.
“These transactions aim to fund our working capital, including to pay for fuel, airplane lease and other activities, that will support the company’s main business, ” the airline said. Aside from the two facilities, the company also obtained a bank guarantee or standby letter of credit facility denominated in rupiah with a ceiling equivalent to $200 million.
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