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ASSA to issue convertible bonds worth IDR 720 billion

23 April 2021 06:37

JAKARTA – PT Adi Sarana Armada Tbk (ASSA) would issue Convertible Bond I 2021 of 600 million units, equivalent to IDR 720 billion. This news was revealed by Hindra Tanuwijaya, Corporate Secretary of ASSA, through the information disclosure quoted Friday (23/4).

It was stated that 90.38% of the funds collected from this bond issuance would be allocated to pay some of the company’s loans. The other 7.01% would go to working capital, and the remaining 2.26% would become an additional capital investment for its subsidiary, PT Adi Sarana Logistik (ASL). “It is intended to develop a new business line in a warehouse sector under Tititpaja brand,” Tanuwijaya added.

This convertible bond could be converted to shares before the bond’s maturation date on June 25, 2023. The bond is categorised as a non-interest-bearing bond but still has a yield to maturity.

It was mentioned that the said corporate action would take place from June 16 to 22, 2021. The standby buyer would be International Finance Corporation (IFC), and the assigned trustee is PT Bank Rakyat Indonesia (Persero) Tbk (BBRI). (LK/ZH)

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