JAKARTA. PT Tower Bersama Infrastructure Tbk (TBIG) would issue Global Notes of USD 900 million at max. The raised funds would then be used for debt refinancing.
Helmy Yusman Santoso, Financial Director of TBIG, explained that these foreign currency notes would not be offered all at once but rather gradually through several issuances. “The plan for the proceeds is to use them for refinancing loans in United States Dollar (USD),” he confirmed.
These notes would still be offered with a 10-year tenor and an annual fixed interest of 6%, which would be paid every six months.
Santoso also revealed that the issuance of these global notes would be categorised as a material transaction as the face value exceeds 50% of TBIG’s equity of IDR 9.22 trillion as of June 2021. Therefore, the management would need to obtain approval from the shareholders during the Extraordinary General Shareholders Meeting scheduled for today, September 30, 2021, at 2 PM WIB. (AM/ZH)