Jakarta – A subsidiary of PT Barito Renewables Energy Tbk (BREN), Star Energy Group Holdings Pte. Ltd. signed an Amendment to the Facility Agreement with Bangkok Bank Public Company Limited on September 2, 2024. Director and Corporate Secretary of Barito Renewables Energy Merly explained that this amendment would positively impact Star Energy’s financial condition, given the decline in margins.
“This will further strengthen the company’s financial health. This is evidence of stakeholder confidence in business development in the renewable energy sector,” he explained in a press statement on Thursday, September 5.
The Amended Facility Agreement has changed a number of material provisions, including the margin, which has been changed to 2.50% above SOFR from previously 4% above LIBOR or 4.42826% above SOFR.
The Final Payment date was then changed to August 30, 2029, from December 14, 2027. This Facility Agreement Amendment is an Amended and Restated Facilities Agreement worth USD 655 million on December 11, 2022.
The USD 655 million Facilities Agreement and its guarantee documents have been previously disclosed in BREN’s Initial Public Offering prospectus on October 3, 2023. (hs)
