(Bloomberg) — Traveloka Indonesia PT, one of Southeast Asia’s biggest online travel startups, has repaid a $300 million private credit loan to a group of lenders that include BlackRock Inc. and Orion Capital Asia, according to people familiar with the matter.
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The Indonesian company used its internal cash to repay the loan, said one of the people, declining to be identified. The loan, which was obtained in 2022, is originally due in 2026, but it came with an option to repay early in April, the people said.
Traveloka withdrew only $250 million of the $300 million that the parties signed to lend. Other lenders include sovereign wealth fund Indonesia Investment Authority and Allianz Global Investors.
The travel industry has rebounded after the pandemic as airline capacity returned to its pre-pandemic level and carriers generated record revenues in 2023. Backed by investors including GIC Pte and Expedia Group Inc., Traveloka said in its website that its app has been downloaded more than 100 million times.
Traveloka’s President Caesar Indra didn’t respond to requests for comment. BlackRock, Allianz Global Investors, Orion Capital Asia, and Indonesia Investment Authority declined to comment.
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