At the end of 2018, PT Astrindo Nusantara Infrastruktur Tbk (“Astrindo”) succeeded in raising US$235 million from foreign creditors led by Barossa Assets Ltd. and Goldman Sachs Asia Strategic Pte. Ltd. to refinance the Credit Suisse loan facilities at Nixon Investments Pte Ltd (“Nixon”). The success of the funding indicates a high level of investor confidence in the Company’s financial performance and cash flows derived from providing the most consistent coal transportation logistics in the integrated energy infrastructure industry.

The funds have been used to fully repay the Company’s subsidiary loans at Nixon Investment Pte. Ltd. that were initially raised from Credit Suisse AG Singapore in 2012 and restructured in 2014. Despite the restructuring, the company was current on the loans for the entire 2018, which reinforced the new Lenders confidence in Astrindo. These actions are part of the Company’s efforts in cleaning up its balance sheet and improving its financial liquidity.

According to Ray Anthony Gerungan, Astrindo’s President Director, “the refinancing allows Astrindo to now focus on growth opportunities and building upon our very strong cash flows. Our goal is to build more assets and substantially increase the level of our earnings, which have been under restricted due to the terms and conditions of our loans”.

In line with the President Director, Michael Wong, Astrindo’s Finance Director, said that “one of the Company’s focuses isto increase Company’s equity value by refinancing the Company’s debts. It is expected that by the new loan will save $ 7-10 million per year purely from interest”.

The success of this refinancing is part of the Company’s commitment to continue to optimize all its potential, and to achieve greater performance, in line with the Company’s efforts to focus on the energy infrastructure business.