JAKARTA. Golden Energy Resources Ltd. (GEAR), the shares controller of PT Golden Energy Mines Tbk., would issue a bond worth USD 285 million, equivalent to over IDR 4 trillion. This bond would be listed on Singapore Stock Exchange with an annual interest rate of 8.5%.
The Corporate Secretary of GEAR, Pauline Lee, explained that this 5-years tenor bond would mature on May 14, 2026, and Golden Investment, an Australian-based company, would guarantee it. The collected funds from this action would be used to pay another bond due 2023 of USD 237.6 million, as stated by Lee in a press conference for Singapore Stock Exchange.
Another portion of the fund would be allotted to the refinancing of loans obtained from Mandiri’s loan facility, including the interests needed and yet to be paid. The remaining portion would go to the company’s general purposes, including investment to implement the business development strategy. (AM/ZH)