ESSA ANNOUNCES THE SUCCESSFUL REFINANCING OF ITS DEBT WITH A US$495 MILLION TERM LOAN FACILITY
Jakarta, March 29, 2021 – PT Surya Esa Perkasa Tbk. (IDX: ESSA) (“ESSA”) is pleased to announce its subsidiary PT Panca Amara Utama (“PAU”) has successfully refinanced its existing long-term debt facilities. The new US$495 million term loan facility (“The Facility”) has been arranged with a consortium of local and international banks.
President Director of ESSA, Vinod Laroya, said:
“We are pleased to announce the refinancing of PAU’s long-term obligations through this new facility. This will enable PAU to have a much simplified and leaner capital structure while creating a debt free parent. We believe the new financing perfectly positions the Company to create strong roots in these uncertain times and thank all our partners for their continued support”.
Overview of ESSA
PT Surya Esa Perkasa Tbk (“ESSA”) is a listed company engaged in Energy and Chemicals sector with a business portfolio in the field of LPG (Liquefied Petroleum Gas) refining and Ammonia production. Established in 2006, ESSA has been listed on the Indonesia Stock Exchange (IDX) since 2012. Through its subsidiary, PT Panca Amara Utama, ESSA is one of the largest Ammonia producers in Indonesia and represents the first application worldwide of the latest KBR Reforming Exchanger System and Purifier Technology.
With increasing emphasis on global sustainability, Blue Ammonia is emerging as a low carbon fuel alternative. In March 2021, ESSA (through PAU) signed a Memorandum of Understanding (MoU) on Carbon Capture, Utilization and Storage (CCUS) for Blue Ammonia Production in Indonesia with Japan Oil, Gas and Metals National Corporation (“JOGMEC”), Mitsubishi Corporation (“MC”), and Institut Teknologi Bandung (“ITB”). With its Blue Ammonia commitment, ESSA paves the way for Indonesia to play a leading role in the future with low carbon fuels.
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