JAKARTA. State-owned defence equipment manufacturer PT Pindad (Persero) will seek medium term note (MTN) holders' approval at a meeting to postpone the principal payment of two MTNs maturing this year.
According to an official statement received by IDNFinancials.com, the meeting will take place on 4 December 2020 at Pindad's representative office in Jakarta. The principal amount of the MTNs in question is Rp 518 billion.
Rp 125 billion of the amount is MTN Pindad/2017 Series D which will mature on 6 December, while the remaining Rp 393 billion is MTN Pindad/2017 Series E which will mature on 7 December.
Each of the MTNs has a fixed interest rate of 9.2%, payable every three months. According to data from the Indonesia Central Securities Depository (ICSD), PT Bank Mandiri (Persero) Tbk (BMRI) is acting as the monitoring agent of the securities. (KR/MS)