JAKARTA – PT Tower Bersama Infrastructure Tbk (TBIG) plans to pay off their loan using internal funds and cash flow. The company has maturing bond in December worth Rp180 billion.
Total debt as of June 2016, valuing USD loans at their hedged exchange rate, was Rp16.18 trillion and gross senior debt was Rp8.57 trillion while cash balance was Rp257 billion, resulting in net debt of Rp15.93 trillion and net senior debt of Rp8.31 trillion. Using the second quarter 2016 annualized EBITDA, the net senior debt to EBITDA ratio is 2.6x and net debt to EBITDA ratio is 5.0x.
Tower has US$275 million Syndicated Loan from 11 Banks including UOB, Bank Of Tokyo, DBS, ANZ, etc. As of June, only US$20 million of money that has been used. Tower Bersama has been able to reduce their leverage this quarter even with the capex spending on robust tower and tenant growth and payment of 2015 final dividend of Rp262 billion interim dividend of Rp330 billion in September 2016.
Last year Tower Bersama noted its tenant as much as 1.400 and the company expects its tenant to grow more than 50% from last year to at least 2.000 tenants by the end of 2016. (LM)