JAKARTA – The principal of  PT Pakuwon Jati Tbk (PWON)’s bonds has declined by USD 66.55 million following the completion of a tender offer in London, United Kingdom, yesterday (15/5).

PWON Director Minarto stated that following the payment made through the tender offer, the remaining bond principal now amounts to USD 333.44 million. “The settlement of the tender offer payment is expected to be completed next week (19/5),” he said, quoting a disclosure on Friday (16/4).

According to Minarto, the completion of the tender offer will have a positive impact on PWON’s balance sheet.

The unsecured senior notes carry a coupon rate of 4.875% and are set to mature in 2028.

The bonds are guaranteed by seven PWON subsidiaries, including PT Artisan Wahyu, PT Elite Prima Hutama, PT Dwijaya Manunggal, PT Grama Pramesi Siddhi, PT Pakuwon Permai, PT Pakuwon Sentosa Abadi, and PT Permata Berlian Realty.

PWON’s share price rose 1.02% to IDR 398 per share in trading today. Over the past month, the share has gained 14.37%, and increased 1.01% over the past week. (LK/KR/ZH)