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Tower Bersama to issue US$ 850 million notes

15 April 2019 03:55 PM  Company: PT. Tower Bersama Infrastructure Tbk[TBIG]
Rp. 3,790  -30 (-0.79%)

JAKARTA - PT Tower Bersama Infrastructure Tbk (TBIG) plans to issue notes with a principal value of US$ 850 million. This plan is a form of the company’s effort to obtain funding to settle maturing debts and repay loans, or to finance business expansion plans.

The note's value of US$ 850 million, if calculated using the central rate of Bank Indonesia on 8 April 2019 (Rp 14.145) is equivalent to Rp 12.02 trillion. The maturity date of this note is in 2029 with a maximum interest of 8%. Interest payments will be made every 6 months.

This note will be issued by Tower Bersama's subsidiary, TBG Global Pte. Ltd. The plan to issue these notes will be included in the agenda of the company's General Meeting of Shareholders which will be held on 21 May 2019.

Currently, Tower Bersama already has US$ 300 million Global Notes which were paid in May 2017, Global Notes of US$ 350 million with the maturity date of 10 February  2022 which is listed on the Singapore Stock Exchange. The plan is that the US$ 850 million Notes will also be listed on the Singapore Stock Exchange. (LM)

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PT. Tower Bersama Infrastructure Tbk [TBIG]   Rp. 3,790   -30 (-0.79%)