JAKARTA – Blue Ocean Resources Pte Ltd (BOR), a subsidiary of PT Central Proteina Prima Tbk (CPRO), finishes its restructuring process of Notes worth USD 162.46 million. It follows the confirmation of notes and debts reassignment from its creditors.
Armand Ardika, Corporate Secretary of Central Proteina Prima, states that the company had signed the senior facilities agreement with the creditors last week (15/9). “The signing of this agreement also involves a share charge agreement regarding CPRO’s portion in BOR, a pledge of shares in CPRO’s subsidiary, and a corporate guarantee,” he further specifies in detail in the information disclosure, quoted Monday (20/9).
The said senior facilities comprise Tranche A of USD 51.51 million and Tranche B of USD 25 million. Tranche A is available for the obligors and is convertible to loans with an effective period until December 31, 2025. On the other hand, Tranche B is a newly obtained loan from Lucra Investments VCC, whose loan period ends on March 31, 2026.
For the record, the providers of Trance A are Deutsche Bank AG, London Branch, Nomura International PLC, Protek Financial Service Inc, Mansha Holding Ltd, Cerunos Capital Partners Ltd, VR Global Partners, LP, PT Bank Maybank Indonesia Tbk (BNII), Barnsbury Holdings, Investment Opportunities V Pte, Limited, and PT Sucor Sekuritas.
“With the settlement of the facility agreement and guarantee documents, BOR has successfully restructured its debts resulting from BOR Notes. Thus, it no longer bears any obligations related to its notes,” Ardika concludes.
According to Ardika, after the said agreement, 51% of the notes debts of BOR of USD 162.46 million recorded in October 2021 now become credits of USD 76.51 million. (LK/ZH)