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Tunas Baru Lampung to issue IDR 5.64 trillion global bond

12 March 2021 09:33

JAKARTA. PT Tunas Baru Lampung Tbk (TBLA) plans to issue debt securities denominated in United States dollars totaling US$ 400 million or equivalent to IDR 5.64 trillion.

The management of TBLA said that the bonds were issued to extend the maturity profile of the company's debt. In addition, the bond issuance considered to increase liquidity and support the company's business plan.

In the prospectus that has been published, TBLA Management explained that the global bond will be issued in New York, United States. The company, which runs this plantation business, has made a number of its subsidiaries and assets as collateral for global bonds.

According to idnfinancials.com data, the global bond to be issued by TBLA is equivalent to 95.81% of the company's total equity as of December 31, 2020. Therefore, the company will seek approval from the Extraordinary General Meeting of Shareholders (EGMS) on March 15, 2021. (KR/LM)

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