JAKARTA – PT Pelangi Indah Canindo Tbk (PICO) asks for an omnibus and a 4-8 years term loan facility to separate creditors to fulfil its obligations maturing this year. PICO is currently facing the suspension of debt payment obligation (lit. Penundaan Kewajiban Pembayaran Utang/PKPU) lawsuit filed by several creditors. Its current outstanding obligation amounts to IDR 724.32 billion.
Rubianto, Director of Pelangi Indah Canindo, said that PICO requested a debt restructuring scheme as there has yet to be an agreement regarding the obligation payment. “Additionally, the company will divest non-core assets within the next four years to reduce the outstanding bank loans,” he added in the information disclosure quoted Friday (4/2).
According to Rubianto, another strategy prepared by the company to handle its concurrent creditors is proposing a debt payment schedule for the next eight years.
PICO is known to face PKPU lawsuits from 11 creditors with varying amounts. These creditors are PT Bank QNB Indonesia, PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), PT Bank Shinhan Indonesia, PT Mitsui Indonesia, PT Asuransi Jasa Indonesia, PT Asuransi ASEI Indonesia, PT Hanwa Indonesia, PT Koexim Mandiri Finance, PT Bumiputer BOT Finance, PT Arthaasia Finance, and PT Marubeni Itochu Steel Indonesia. (LK)