Material Information regarding the Signing of Credit Agreement between PT Ethica Industri Farmasi and PT Bank Mandiri (Persero) Tbk
Referring to Financial Service Authority (Otoritas Jasa Keuangan – “OJK”) Regulation No. 31/POJK.04/2015 on Information Disclosure of Material Facts by Issuer or Public Company as partially amended by OJK Regulation No. 45 of 2024 on the Development and Strengthening of Issuers and Public Companies (“POJK 31/2015”) and Annex to the Board of Directors’ Decree of PT Bursa Efek Indonesia No. Kep-00066/BEI/09-2022 on Amendments to Regulation No. I-E on the Obligation to Submit Information, we, PT Pyridam Farma Tbk (the “Company”) hereby inform the following material information:
a. Date of Occurrence
January 31st, 2025.
b. Type of Material Information or Fact
Information or other material facts as referred to in Article 6 (h) POJK 31/2015, in the form of the obtainment of a significant contract and Article 6 (y) POJK 31/2015, in the form of an event that will result in an increase in financial liabilities.
c. Details of Material Information or Fact
PT Ethica Industri Farmasi (“EIF”) (controlled subsidiary of the Company), has signed and executed the binding of an investment credit facility based on Deed of Investment Credit Agreement II No. 58 dated 31 January 2025, made before Tjoa Karina Juwita S.H., Notary in Jakarta, with PT Bank Mandiri (Persero) Tbk. (“Bank Mandiri”) (“Credit Agreement Deed”), where EIF will obtain a new loan in the form of Investment Credit 2, with a credit limit of IDR120,000,000,000 (one hundred twenty billion rupiah) (“Credit Facility”). In addition to the Credit Agreement Deed, EIF also signed the Deed of Addendum to the Cross Default and Cross Collateral Agreement No. 59, dated 31 January 2025, made before Tjoa Karina Juwita S.H., Notary in Jakarta, and the Deed of Power of Attorney to Encumber Mortgage No. 60, dated 31 January 2025, made before Tjoa Karina Juwita S.H., Notary in Jakarta, as well as other supporting documents (collectively with the Credit Agreement Deed, referred to as the “Transaction Documents”). Based on the Transaction Documents, for the Credit Facility, EIF has agreed to provide additional collateral to Bank Mandiri in the form of a Second-Rank Mortgage over the land and factory building owned by EIF, located in the Jababeka Industrial Estate Phase V, Block B1-B1, Jayamukti, Central Cikarang, Bekasi, West Java, as evidenced by the Certificate of Building Use Rights (Sertipikat Hak Guna Bangunan) No. 5788/Jayamukti (“Additional Collateral”).
(a) Contracting parties:
- EIF; and
- Bank Mandiri.
(b) Relationship between contracting parties: As of the date of this information disclosure, EIF and Bank Mandiri do not have an Affiliate relationship as referred to in Law No. 8 of 1995 on Capital Markets, as amended by Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector.
(c) Type of contract: The acquisition of a Credit Facility in the form of an Investment Credit, where EIF acts as the debtor and the encumbrance of Additional Collateral.
(d) Contract value: The credit limit of the new loan and the encumbrance value of the Second-Rank Mortgage over the Additional Collateral is IDR120,000,000,000 (one hundred twenty billion rupiah).
The loan interest rate is 8.25% (eight point twenty-five percent) per annum.
The term of the Credit Facility is 96 (ninety-six) months from the date of signing of the Credit Agreement Deed.
(e) Reason for acquiring contract: The credit acquisition is carried out due to the refinancing of EIF’s existing assets in the form of land and factory buildings located in the Industrial Area, Jababeka Phase V, Block B1-B1, Jayamukti, Central Cikarang, Bekasi Regency, West Java. This is undertaken as part of the expansion of EIF’s production facilities.
d. Impact of the Material Information or Fact
There is no material impact from the event, information, or material fact on the Company’s operational activities, legal matters, or business continuity, except for the obligation to make periodic payments of interest and loan principal.
Similar information is also submitted by the Company through IDX’s Website and reported to the OJK.
Jakarta, 2 February 2025
PT Pyridam Farma Tbk
Corporate Secretary