JAKARTA - PT Pan Brothers Tbk (PBRX) will issue Global Notes amounting to US$ 350 million with fixed interest rates for a period of five years. This Note will be guaranteed by the company and some of its subsidiaries.
In the company's disclosure quoted on Monday (25/1), the proceeds from the Notes will be used for refinancing Global Notes with a principal amount of US$ 171,078,000, excluding interest and other fees of US$ 6.5 million that must be paid this month and refinancing syndicated debt of US$ 138.50 million. The collateral that PBRX will give for the proposed Notes issuance is 190% of the principal, premium and interest that must be paid. The notes’ interest is set at 12% per annum.
Regarding the plan, PBRX has received approvement from creditors, including Bank UOB Indonesia and Bank Permata and is waiting for approval from other creditors, namely, Bank ANZ Indonesia, Bank HSBC Indonesia, ING Bank NV Singapore Branch, Bank China Construction Bank Indonesia, Bank Mizuho Indonesia, Bank Maybank Indonesia, Malayan Banking Berhad, Singapore Branch, Bank KEB Hana Indonesia, BRI, MUFG Bank Ltd, Bank BNP Paribas, Bank Shinhan Indonesia, and Citibank NA, Indonesia. (LK/LM)