Insider Stories - Small mobile phone operator PT Smartfren Telecom Tbk (FREN) secured $90 million loan from Frist Anglo Financial Pte Ltd, a Singapore-based financial company.

FREN's corporate secretary James Wewengkang said the signing of the loan deal was done on 12 November. The loan, which comes with 24 months tenor, was the second loan commitment from Frist Anglo.

Previously on April 30, 2013, the company also signed a loan deal with First Anglo for same amount and maturity.

The loan facility will be used to refinance FREN's debts and FREN subsidiaries' debts as well as pay for working capital.

The loan deal comes with Corporate Guarantee from FREN's shareholder, Wahana Inti Nusantara.