TBIG - PT. Tower Bersama Infrastructure Tbk

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JAKARTA. PT Tower Bersama Infrastructure Tbk (TBIG), a telecommunications infrastructure issuer owned by the Djarum Group, issued Phase I Shelf Registration Bonds VI of 2023 with a total principal amount of IDR 1.5 trillion.

The bonds were issued in 2 series, namely Series A, with a principal amount of IDR 1 trillion and Series B of IDR 500 billion. Series A bonds are offered with a coupon of 5.90% per year and a tenor of 370 calendar days, while Series B is offered with a coupon of 6.25% per year and a tenor of 3 years.

The bond public offering will take place on 4-5 July 2023. The distribution of the bonds is scheduled for 11 July 2023 and the listing of the bonds on the Indonesia Stock Exchange (IDX) on 12 July 2023.

In the published prospectus, TBIG will distribute the proceeds from the bond issuance for loans to PT Tower Bersama (TB) and PT Solu Sindo Kreasi Pratama (SKP). The details are US$99.8 million or around IDR 1.48 trillion for TB and the remaining US$34.7 million or around IDR 516.2 billion for SKP.

For the record, TB and SKP will later use the funds to pay the loan principal which is the obligation of each company. "Both are related to a US$325 million revolving loan facility that will be paid to creditors," explained TBIG Management, in the bond issuance prospectus. (KR/LM)