JAKARTA – PT Tower Bersama Infrastructure Tbk (TBIG) had issued Notes of USD 400 million, equivalent to IDR 5.79 trillion, with a currency exchange rate of IDR 14,496/USD. These notes are a part of a more extensive issuance of Notes of USD 900 million, decided during the Extraordinary General Shareholders Meeting on September 30, 2021.
The information disclosure quoted on Friday (5/11) revealed that the company could still proceed to release the Notes of USD 500 million at least within 12 months after the said shareholder meeting. The interest rate for these USD 400 million Notes was set to 2.8% per year, maturing in 2027.
After deducting the emission guarantee costs and commissions, the net proceeds would amount to USD 396 million. Then, this fund would be used to pay some indebted balance of a Series B revolving loan of USD 100 million out of the total USD 1 billion. It would also be allocated to pay back a revolving loan facility (RLF) in 2017 of USD 200 million and some portion of RLF 2019 of USD 375 million.
The preliminary buyers of these Notes are banks headquartered in Singapore. They include Barclyas Bank PLC, BNP Paribas, Credit Agricole Corporate and Investment Bank, DBS Bank Ltd, the Hongkong and Shanghai Banking Corporation Limited, Mizuho Securities Asia Limited, Oversea Chinese Banking Corporation Limited, United Overseas Bank Limited, Australia and New Zealand Banking Group Limited, CIMB Banking Berhad, MUFG Securities Asia Limited, and SMBC Nikko Securities (Hong Kong) Limited. (LK/ZH)