Notes tothe financial statements For the financial year ended 31 December 2023 27. Interest-bearing loans and borrowings Current loans and borrowings Description of credit facilities End of availability period Amount 2023 Rp million 2022 Rp million Rupiah Subsidiaries Unsecured facility from PT Bank Central Asia Tbk June 2024 – 1,193,000 Unsecured facility from PT Bank Mandiri (Persero) Tbk June 2024 1,748,000 1,650,000 Unsecured facility from PT Bank DBS Indonesia September 2024 600,000 220,000 Unsecured facility from PT Bank Tabungan Pensiunan Nasional Tbk November 2024 1,435,000 1,050,000 Secured facilities from PT Bank Central Asia Tbk(1) June and September 2024 466,000 551,000 Secured facility from PT Bank DBS Indonesia(1) September 2024 700,000 506,000 Secured facility from PT Bank Tabungan Pensiunan Nasional Tbk (1) November 2024 700,000 700,000 Sub-total 5,649,000 5,870,000 Add: current portion of long-term loans 1,294,245 1,042,271 Total 6,943,245 6,912,271 (1) Secured by corporate guarantee from PT SIMP in proportion to its equity ownerships in the subsidiaries. The Group has unconditional rights to rollover and/or refinance the short-term loans as and when they fall due. The purpose of the short-term loans and borrowings are for working capital requirements. Effective interest rates The short-term loans denominated in Rupiah bear yearly interest rates ranging from 5.45% to 8.00% (2022: 4.65% to 8.00%) for the year ended 31 December 2023. Covenants The above-mentioned credit agreements obtained by the subsidiaries are subject to several negative covenants, which include among others, grant or obtain new loans without prior consent except to subsidiary companies; limit the ability as guarantor or pledge their assets to other parties except to subsidiary companies; merge or consolidate with other entity; sell or dispose-off assets and make new investments in excess of certain thresholds. Certain subsidiaries are also required to maintain certain financial ratios. 136 GROUP OVERVIEW OPERATION AND FINANCIAL REVIEW SUSTAINABILITY & GOVERNANCE FINANCIALS OTHER INFORMATION Indofood Agri Resources Ltd
RkJQdWJsaXNoZXIy NTkwNzg=