TBS Energi secures $385M syndicated loan led by DBS Bank
What's the deal? Indonesia's PT TBS Energi UtamaDealroom has a profile for this one. Try Dealroom → (TOBA) has raised a syndicated loan of up to $385 million, or 5tn rupiah, led by Singapore's DBSDealroom has a profile for this one. Try Dealroom →.
The facility covers a $345 million term loan and a $40 million revolving credit line.
It will fund TOBA's waste management business through three wholly owned Singapore subsidiaries: CEG, SBT Invest, and Taonga.
Why now? Most of the loan will refinance existing debt held by SBT Invest and Taonga, aiming to cut funding costs and extend repayment terms.
The rest goes to capital expenditure and working capital for the three units.
"Through this loan facility transaction, the company expects to obtain a more efficient financing structure," management said in a disclosure dated June 26, 2026.
What could go wrong? The loan's scale required TOBA to comply with Financial Services Authority rules.
But because the funds come directly from banks, TOBA needs neither shareholder approval nor an independent fairness assessment.
The signal: The seven-bank syndicate—a mix of corporate lenders from Singapore, Thailand, China, Malaysia, and France—reflects how a late-stage Indonesian player like TBS Energi Utama, with its ESG and disciplined capital management pitch, can tap deep regional liquidity to refinance its waste management arm. With first-time participant NatixisDealroom has a profile for this one. Try Dealroom → joining DBS, Bangkok BankDealroom has a profile for this one. Try Dealroom →, The Export-Import Bank of ChinaDealroom has a profile for this one. Try Dealroom →, Maybank SingaporeDealroom has a profile for this one. Try Dealroom →, and RHB BankDealroom has a profile for this one. Try Dealroom →, the deal underscores international banks' widening appetite to back Southeast Asia's energy transition plays.
Read more: Babe Indonesia
Image credit: Generated with Gemini
