Waskita Karya Restructures Debt, Subsidiary Gets Reduced Credit Interest
Executive Summary
Key insights and market outlook
PT Waskita Karya Tbk (WSKT) has successfully restructured debt through its subsidiary PT Waskita Karya Realty (WKR), securing reduced interest rates on a Rp 15 billion credit facility from PT Bank Perekonomian Rakyat Intidana Sukses Makmur. The original interest rate of 15% per annum was maintained, but the restructuring provides financial relief to the construction company's subsidiary. This move is part of Waskita Karya's ongoing efforts to manage its debt obligations and improve financial stability.
Deep Dive Analysis
Waskita Karya Successfully Restructures Subsidiary Debt
Financial Relief for Waskita Karya Realty
PT Waskita Karya Tbk (WSKT), a major Indonesian construction company, has successfully restructured debt for its subsidiary PT Waskita Karya Realty (WKR). The restructuring involves a credit facility from PT Bank Perekonomian Rakyat Intidana Sukses Makmur amounting to Rp 15 billion. While the interest rate remains at 15% per annum effective, the restructuring provides significant financial relief to WKR, which is 99.99% owned by Waskita Karya.
Credit Facility Details
The original credit agreement was signed on December 28, 2022 (Agreement No. 223) and was last amended through Addendum No. 61772/ISM/ADDPK-KMK/1224 dated December 30, 2024. The credit facility has a term of 66 months, providing WKR with extended financial flexibility.
Strategic Financial Management
This debt restructuring demonstrates Waskita Karya's proactive approach to managing its financial obligations. By restructuring the debt of its subsidiary, the group is working to maintain financial stability across its operations. The successful restructuring reflects the company's efforts to optimize its financial structure and improve overall liquidity.
Source References
Story Info
Topics Covered
Key Events
Debt Restructuring Completion
Credit Facility Renegotiation