JAKARTA. Bhinneka Holdings (22) Limited will take over the entire shares issued in the private placement initiated by GOTO. In order to execute this plan, Bhinneka Holdings will issue equity-based security to IFC and Franke & Company, Inc worth USD 150 million.

The debt security issued by Bhinneka is exchangeable with series A shares of GOTO (exchangeable bond) that have been acquired by Bhinneka for IDR 135 per share. Said price level consists the premium of 50% of the weighted average price of GOTO’s shares within the past month, until October 2, 2023.

Said financial instrument is equipped with a coupon rate of 5% per annum, which will be paid twice a year, and will mature in October 2028.

Citigroup Global Markets Limited and Goldman Sachs (Singapore) Pte are working together as a joint placing agent regarding this debt security issuance to investors. (AM/ZH)