JAKARTA - PT Gajah Tunggal Tbk (GJTL), a tire manufacturer, plans to issue bonds worth US$ 270 million. This was conveyed by Kisyuwono, Finance Director of PT Gajah Tunggal Tbk (GJTL) in an information disclosure quoted on Wednesday (10/3).
He conveyed that the collateral for the bond issuance was US$ 405 million or 150% of the value of the bonds to be issued. "The bonds will mature in 2026 with a maximum interest rate of 9% per year," he said.
According to him, the value of the bond reached IDR 3.80 trillion using Bank Indonesia's middle rate per December 2020 of IDR 14.105 per US$ 1.The total debt securities are equivalent to 55.55% of GJTL's equity value of IDR 6.85 trillion as of December. 2020.
He said that the plan would be decided at the Extraordinary General Meeting of Shareholders (EGMS) next week (15/3). "The proceeds from the issuance of this new debt will be used to pay off old debts," he said. (LK/LM)