(Bloomberg) — Traveloka Indonesia PT, one of Southeast Asia’s largest online travel startups, has repaid a $300 million private credit loan to a group of lenders including BlackRock Inc. and Orion Capital Asia, according to people familiar with the subject.
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The Indonesian company used its internal money to repay the loan, said one of the people, who declined to be identified. The loan, taken out in 2022, originally matures in 2026 but came with an early April repayment option, the people said.
Traveloka only withdrew $250 million of the $300 million the parties signed to lend. Other creditors include sovereign wealth fund Indonesia Investment Authority and Allianz Global Investors.
The travel industry has rebounded post-pandemic as airline capacity returned to pre-pandemic levels and carriers generated record revenues in 2023. Backed by investors including GIC Pte and Expedia Group Inc., Traveloka said in its website that your app has been downloaded more than 100 million times.
Traveloka president César Indra did not respond to requests for comment. BlackRock, Allianz Global Investors, Orion Capital Asia and Indonesia Investment Authority declined to comment.
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