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PSAB will try to raise Rp 545 billion by issuing bonds

15 July 2020 23:26

JAKARTA. PT J Resources Asia Pasifik Tbk (PSAB) will try to raise Rp 545 billion by issuing bonds, most of which will be used to pay off the maturing debt of its subsidiary, PT J Resources Nusantara (JRN).

The bonds are offered in two series, A and B. Series A has a total value of Rp 220 billion, an interest rate of 9.25% per year, and a tenor of 370 days. Series B has a total value of Rp 315 billion, an interets rate of 10.25% per year and a three-year tenor.

PSAB's management explained that the proceeds from the bond issuance will be used to pay off JRN's Medium Term Notes, which has a total value of Rp 500 billion. "The rest will be used for working capital and / or for general corporate purposes of the company and / or its subsidiaries," said PSAB's management.

PSAB appointed PT BNI Sekuritas and PT Trimegah Sekuritas Indonesia Tbk (TRIM) as bond underwriters. Meanwhile PT Bank Rakyat Indonesia (BBRI) was appointed as trustee. (KR/AR)

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