(Bloomberg) — Traveloka Indonesia PT, one of Southeast Asia’s largest online travel startups, repaid a $300 million private loan to a group of lenders including BlackRock Inc. and Orion Capital Asia, according to people familiar with the matter.
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The Indonesian company used its internal cash flow to repay the loan, one of the people said, speaking on condition of anonymity. The loan, obtained in 2022, is initially due in 2026, but it came with an option to repay in early April, the sources said.
Traveloka only drew down $250 million of the $300 million the parties signed to lend. Other lenders include sovereign wealth fund Indonesia Investment Authority and Allianz Global Investors.
The travel industry rebounded from the pandemic, as airline capacity returned to pre-pandemic levels and carriers generated record revenues in 2023. Supported by investors including GIC Pte and Expedia Group Inc., Traveloka said on its website that its app had been downloaded more. more than 100 million times.
Traveloka President Caesar 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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