HomeNewsVideos

Tower Bersama AGM approves plan to issue US$ 850 million global bond

21 May 2019 18:47

JAKARTA. PT Tower Bersama Infrastructures Tbk (TBIG) has obtained a shareholder approval in the company's Annual General Meeting of Shareholders (AGM) to issue a US$ 850 million global bond this year to strengthen the company's working capital.

TBIG Director Helmy Yusman Santoso said that the AGM had approved a 8% interest of the upcoming global bond, while the tenor will be set from five to 10 years. "Usually it ranges from five to seven years," Mr Santoso told IDNFinancials.com, Tuesday (21/5).

Mr Santoso explained that proceeds from the global bond issuance will be used to restructure the company's maturing debts, adding that the company has no specific plan regarding the use of the proceeds and thus the global bond issuance plan is still anticipatory. "If the market and the cost of fund are good, we will use the global bond to refinance our outstanding loans," he said.

This year TBIG has a bond that will mature on October 28. The bond, issued on October 19, 2018, has a value of Rp 628 billion with a 8.5% interest. (KR/MS)

© 2024 - IDN Financials - All Rights Reserved.