JAKARTA – PT Kawasan Industri Jababeka Tbk (KIJA) would issue notes of USD 350 million in order to pay off the other notes worth USD 300 million, maturing in 2023. Corporate Secretary of KIJA, T Budianto Liman, announces this plan in the information disclosure, quoted today (7/9).
It is mentioned that the said notes would be issued by Jababeka International BV (JIBV), a subsidiary of KIJA headquartered in the Netherland. The upcoming notes would be equivalent to IDR 4.93 trillion, using a currency exchange rate of IDR 14,105 per USD. It would also equal 78.86% of the company’s total equity reported in December 2020 of IDR 6.26 trillion.
According to Liman, the purpose behind this action is to improve the profile of debt payment punctuality and lessen the credit risk. Furthermore, the surplus of the latest notes of USD 350 million could be channelled to pay off subsidiaries’ loans, thus increasing KIJA’s liquidity.
The issuance of these recent notes would promote its assets by 6% to IDR 12.90 trillion and its liabilities by 6% to IDR 6.64 trillion. Its current ratio would also increase to 669% from 618%. This plan would be further discussed during the Extraordinary General Shareholders Meeting on September 8, 2021.
The previous notes, worth USD 300 million, were offered with an annual interest rate of 6.50% and interest payment every six months. In rupiah, it would equal IDR 4.23 trillion. (LK/ZH)