JAKARTA – Golden Energy and Resources Limited (GEAR), a subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA), arranges the issuance of Senior Secured Notes (SSN) worth USD 90 million to support itself during the public offering of Stanmore Resources Limited. Susan Chandra, Corporate Secretary of Dian Swastatika Sentosa, announced the plan in the information disclosure quoted Thursday (10/3).
“The interest coupon of those notes is set to 8.5% per year, and the notes will mature in May 2026, with some of GEAR Group’s assets as the guarantee,” Chandra specified.
According to Chandra, through Golden Investments Pte Ltd (Australia), GEAR will take part in the offering of rights of pro rata common shares of Stanmore, which can be employed to acquire the entire shares of Dampier Coal Pty Ltd (Queensland). “The said plan had been approved in the Extraordinary General Shareholders Meeting last month (23/2),” she explained.
It was mentioned that this corporate action will drive the debt-to-equity ratio of the company 4.8% higher. (LK/ZH)