Star Energy Group Holdings Pte Ltd, a subsidiary of PT Barito Renewables Energy (BREN), has signed an Amended and Restated Facilities Agreement with Bangkok Bank on September 2, 2024.
One of the key amendments is the reduction of the interest margin, which was previously 4 percent above LIBOR or 4.42826 percent above SOFR, now lowered to 2.50 percent above SOFR.
Additionally, the final repayment date has been extended from December 14, 2027, to August 30, 2029, allowing the company more flexibility in managing its financial obligations.
Merly, Director and Corporate Secretary of BREN, commented on the positive impact of the lower margin.
“This margin reduction will further strengthen the company’s financial health. It also reflects the stakeholders’ trust in our commitment to expanding the renewable energy business,” she said.
The amendment is a restatement of the US$655 million facilities agreement, originally signed on December 11, 2022, between Star Energy Group Holdings Pte Ltd and Bangkok Bank.
This agreement had also been disclosed in BREN’s initial public offering prospectus dated October 3, 2023.
