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Settling debts, Sentul City prepares IDR 926.25 billion

26 August 2022 13:42

JAKARTA – PT Sentul City Tbk (BKSL) allocates IDR 926.25 billion from the rights issue proceeds to pay off debts that are due soon. Said amount is approximately 18.41% of the total rights issue proceeds, whose target has been set to IDR 5.03 trillion.

In the short prospectus quoted today (26/8), BKSL mentioned several debts owed to non-affiliated creditors. This upcoming repayment is for the principal of debts, which, in total, is worth less than 20% from BKSL’s equity.

The creditors in question include PT Bintang Harapan Desa (BHD) with an outstanding loan of IDR 166.50 billion, maturing on December 2022. There are also another IDR 215 billion owed to PT Daya Kharisma Nusantara (DKN) by October 11, 2023, and IDR 358.77 billion to Golden Capital Foundation Ltd by January 17, 2024.

It does not stop there. BKSL also owed PT Fajar Abadi Masindo (FAM) IDR 15 billion, PT Alam Raya Hijau (ARH) IDR 99.79 billion out of the credit ceiling of IDR 250 billion maturing on October 1, 2023. Lastly, Queen Bridge Investment Ltd recorded an outstanding loan worth IDR 61.27 billion, which BKSL should repay by April 12, 2024.

BKSL is known to plan a rights issue of 100,625,341,623 shares, fixing a price of IDR 50 each, from October 10 to 14, 2022. (LK/ZH)

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