ANTM - Seeks USD500 mn syndicated loan

ANTM - Seeks USD500 mn syndicated loan Bloomberg reports that Aneka Tambang (ANTM) is seeking a USD500 mn (~IDR8.2 tn) loan, potentially the first USD-denominated syndicated loan by an SOE in 2025. The 5-year facility, led by UOB, includes a term loan and revolving credit, intended for capex and working capital. (Source : Bloomberg) Comment : ANTM’s 2024 leverage remains conservative with a D/E of just 0.26x and net gearing at 0.11x. After the new loan, D/E rises to 0.52x and net gearing to 0.37x, still healthy for the mining sector but higher leverage signals rising risk if capex doesn’t soon generate cash flow.