Dian Swastatika Sentosa
– Sinar Mas

PT Dian Swastatika Sentosa Tbk is an Indonesian company majority-owned by the Sinar Mas Group. It is mainly engaged in coal mining and trading. Through its subsidiaries, the company’s business covers four sectors:

  1. Coal mining and trading: operated by PT Golden Energy Mines Tbk and PT Bumi Kencana Eka Sejahtera.
  2. Power and steam generation: operates steam and electric power plant complexes in Tangerang, Serang and Karawang, Indonesia.
  3. Chemical trading business: operated by PT Rolimex Kimia Nusamas, includes chemicals, pesticide and fertilizer trading.
  4. Infrastructure and multimedia:  run by PT Mora Quatro Multimedia, which is involved in the broadband multimedia business.

It is also a majority owner of Golden Energy and Resources through which it owns many of its mines.   GEAR owns the right to mine more than 2.8 billion tonnes of coal with coal reserves estimated at 1 billion tonnes in 2018.

Shareholders

Investor Ownership (%) Date
PT Sinar Mas Tunggal 59.90 31 Mar 2019

Bonds

This was a loan to Golden Energy and Resources.

Credit Suisse acted as the arranger.  The purpose of AUD 70M of the loan was to acquire Australia’s Stanmore Coal and the remainder for other activities related to Stanmore Coal.

The original syndicated loan was signed in December 2011.  The lenders were: 

  • DBS
  • UOB
  • OCBC
  • Bank of Tokyo-Mitsubishi UFJ, Ltd.
  • ANZ

On June 22, 2017, DSS signed an Amendment and Restatement Agreement which further extended the life of the loan facility to June 30, 2021, and changed its maximum limit to US$175M. The lenders were:

  • DBS 
  • UOB
  • OCBC
  • Bank of Tokyo-Mitsubishi UFJ, Ltd. 
  • SMBC

Loans

The original syndicated loan was signed in December 2011.  The lenders were: 

  • DBS
  • UOB
  • OCBC
  • Bank of Tokyo-Mitsubishi UFJ, Ltd.
  • ANZ

On June 22, 2017, DSS signed an Amendment and Restatement Agreement which further extended the life of the loan facility to June 30, 2021, and changed its maximum limit to US$175M. The lenders were:

  • DBS 
  • UOB
  • OCBC
  • Bank of Tokyo-Mitsubishi UFJ, Ltd. 
  • SMBC

Structure

Disclaimer

PLEASE NOTE: Information comes from the companies’ available annual reports and financial reports (2012 to 2018) and websites, as well as other public and subscription-based information sources.

Occasionally, where information is incomplete, assumptions must be made about data and these were made in a consistent manner and in good faith. While we endeavoured to gather and include all relevant deals, we cannot guarantee the completeness of the information presented.

Last updated: 19 August 2019