JAKARTA. PT Kawasan Industri Jababeka Tbk (KIJA) announced its plan to exchange the Global Bonds of USD 300 million, which will mature on October 5, 2023, with a new set of global bonds that will be issued by Jababeka International B.V. and mature by 2027.
KIJA will firstly seek approval from its original bondholders, also known as a consent solicitation, regarding the plan of a tender offer of said bonds. For the record, the USD 300 million global bonds are equipped with 6.5% coupon. Indeed, KIJA is planning to hold a tender offer for the old global bonds in New York, starting on November 22, 2022, at 5 pm local time.
“The holders of old global bonds will receive USD 700 of new bonds for every old bonds worth USD 1,000,” the management of KIJA explained in the information disclosure in Singapore Stock Exchange (SGX) last Tuesday (8/11), also quoted by Bisnis.
Furthermore, KIJA will also channel USD 300 in cash to every holder of old bonds worth USD 1,000. The initial period of this consent solicitation regarding the upcoming global bonds exchange will end on December 7, 2022. (AM/ZH)