Indonesia’s Waskita Karya Signs $1.7 Billion Debt Revamp
- Company, banks extend maturity of loans by 10 years to 2032
- Waskita’s debt increased amid government’s infrastructure push
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Indonesian builder PT Waskita Karya reached an agreement with lenders to restructure 26.3 trillion rupiah ($1.7 billion) worth of loans, about a third of its total liabilities, relieving some pressure from the distressed company.
Waskita Karya signed a master restructuring agreement with 21 local and international banks to extend their loans’ maturity period by 10 years to 2032, President Director Muhammad Hanugroho said in Jakarta on Friday.