State cement producer Semen Indonesia (SMGR) obtained syndicated loan of Rp2.35 trillion from three Syariah banks; PT Bank Syariah Mandiri, PT Bank CIMB Niaga Syariah, and PT BRI Syariah Tbk, used to fund its business. Previously in July 2019, Semen Indonesia obtained a loan of Rp9.35 trillion from banks syndication consisting of Bank Negara Indonesia (BBNI), Bank Mandiri (BMRI), BTPN, Bank HSBC Indonesia, Bank Central Asia (BBCA), Citibank NA Jakarta branch, and MUFG Bank Ltd Jakarta branch. Said loan was used to refinance its debt made for acquiring 80.6% shares of cement producer PT Solusi Bangun Indonesia Tbk (SMCB).

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