JAKARTA. PT PP Properti (Persero) Tbk (PPRO) announced that the repayment period of the principal of its Medium Term Notes X with a total value of IDR 200 billion will be extended for a year.
Deni Budiman, Finance Director of PTPP, said that the MTN was originally registered with a 3-year tenor, a maturity date of 16 November 2020, and a coupon of 9.75%, with coupon payments made every three months.
After making an addendum to the agreement, the tenor is now changed to 4 years, with a maturity date of 15 November 2021. With the change in tenor, PTPP also agrees a higher coupon rate of 10.75% in the fourth year.
50% of coupon payments made for the 4th year will be paid in advance at the end of the 3rd year, on 16 October 2020, while the rest will be paid on a quarterly basis
For the record, PTPP had cash and cash equivalents of IDR 5.5 trillion at the end of September 2020, 4% lower than its record in December 2019. (KR/AR)