JAKARTA. PT Cikarang Listrindo Tbk (POWR) intends to issue securities in foreign currency, or a global bond, with a maximum par value of USD 600 million.
According to Ko Rina, Investor Relations & Corporate Finance Manager of POWR, the global bond value is categorised as material transactions. This is due to its principal equalling 89.48% of the company’s total equity in December 2020.
In the information disclosure in Indonesia Stock Exchange (IDX) today (9/7), this upcoming global bond of USD 600 million would be utilised to refinance the bonds maturing in 2026. Previously, a bond worth USD 550 million had been issued by Listrindo Capital BV before transferring it to POWR.
“The company would consider the best outcome following the recent Notes issuance (of USD 600 million) and the settlement of the entire or a portion of Notes 2026 (of USD 550 million),” Rina asserts.
Before proceeding with the plan, POWR would ask for approval from its stockholders during the Extraordinary General Shareholders Meeting. The said meeting is to be held on July 30, 2021. (KR/ZH)