ublicly listed state-owned construction firm PT Wijaya Karya (WIKA) secured a debt restructuring deal worth Rp 24.2 trillion (US$1.54 billion) with 11 financial institutions through a master restructuring agreement (MRA), the company said in a statement released on Wednesday.
The agreement covered 87.1 percent of WIKAs restructured debt, the company said, and was a step forward in improving the company’s financial condition.
Two of the companys board members and the heads of the 11 lenders signed the agreement on Tuesday, which was overseen by Deputy State-Owned Enterprises (SOEs) Minister Kartika Wirjoatmodjo and WIKA president director Agung Budi Waskito.
The lenders believe that WIKA is capable of recovery and is willing to partic…
Read the full article at: https://www.thejakartapost.com/business/2024/01/24/wika-strikes-1-54-billion-debt-restructuring-deal-with-11-lenders.html