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Angkasa Pura Airports Receives Rp 5 Trillion Loan from BTN, Sarana Multi Infrastruktur and BRIsyariah

18 Dec 2018

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JAKARTA – Angkasa Pura Airports has received loan from bank and non-bank financial institutions of Rp5 trillion (US$356 million) to develop airports managed by the company.

 The loan was provided by state-owned lender Bank Tabungan Negara (BTN), state-owned infrastructure financing company PT Sarana Multi Infrastruktur (SMI) and state-owned lender BRIsyariah. The signing of the agreement was conducted by Angkasa Pura Airports president director Faik Fahmi along with BTN president director Maryono, SMI president director Emma Sri Martini and BRIsyariah business director Kokok Alun Akbar in Grand Mercure Hotel in Kemayoran, Jakarta on Tuesday (18/12/2018).

 With its commitment to encourage Islamic finance development in Indonesia, Angkasa Pura Airports involves Islamic bank to fund the company’s capital expenditure (capex). Earlier in 2016, Angkasa Pura Airports has issued sukuk ijarah (Islamic bond) of Rp 500 billion to finance its capital expenditure.

Faik said the credit facility of the Rp5 trillion loan has 10 years tenor with grace period of five years. It was part of the funding plan to develop the company’s airports in 2018 and 2019.

“This year we get external funding of Rp5 trillion to finance the realization of capital expenditure in 2018 and some in 2019. In 2019, with capex of around Rp17.53 trillion, we plan to obtain external financing of Rp13 trillion in a form of loan from banking institutions and bond issuance,” Faik said.

Angkasa Pura Airports also plans the capex of Rp76 trillion in 2019 to 2023. To realize the plan, it will also get loan from financial institution, bond issuance, asset securitization and partnership with strategic partners.

“Angkasa Pura Airports sees higher number of passengers compared to our ability to provide capacity. To solve that, we’re trying to build and develop airports to boost the economy. We hope the signing of this agreement can support the improvement of business, service and user satisfaction in our airports,” Faik added.

“As part of synergy among state-owned enterprises and commitment Bank BTN to support infrastructure development, we provide funding of Rp2 trillion,” said Maryono.

In this collaboration, Bank BTN provides non-revolving loan to Angkasa Pura Airports for its business, airports’ development and routine investment. Funding for the infrastructure will be added by collaborating with other SOEs. 

Meanwhile, Emma said it was the second collaboration between SMI and Angkasa Pura Airports under her management which makes it possible for SMI to support the connectivity of regions in Indonesia and bridging the needs of infrastructure development, in this case is airports with fund of Rp364 trillion.

Support towards the development of the airports are part of SMI’s commitment to achieve Sustainable Development Goals (SDGs), specifically: goal 1 of SDGs of no poverty, goal 5 of gender equality, goal 8 of decent work and economic growth, goal 9 of industry, innovation and infrastructure then goal 10 of reduced inequalities.

“With the singing of this agreement, BRIsyariah can contribute to the development of infrastructure by investment financing cooperation of airports managed by Angkasa Pura Airports,” Kokok said.

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