JAKARTA - PT Tower Bersama Infrastructure Tbk (TBIG) has issued Shelf-Registered Bond III Tower Bersama Infrastructure Phase IV 2020 worth Rp 1.5 trillion.
The bond’s value consists of Rp 633 billion at a fixed interest rate of 6.25% for a 370-day tenor and Rp 867 billion at a fixed interest rate of 7.75% for a three-year tenor. Proceeds from the bond issuance will be used to partially repay Tower Bersama’s subsidiaries’ financial liabilities, particularly a US$375 million revolving loan facility.
The bond has been awarded an AA- rating by Fitch Ratings Indonesia and was listed on the Indonesia Stock Exchange (IDX) on Thursday (26/3).
“We have an extremely strong debt structure—fully hedged and long term with ample and committed undrawn availability,” said Tower Bersama CEO Hardi Wijaya Liong in an official statement received by IDNFinancials.com, Tuesday (24/3).
“TBIG Bond III Phase IV will diversify and strengthen our capital structure.” (MS)