Tower Bersama Announces Rupiah Bond Offering

Ilustrasi (DOK)

JAKARTA (IndoTelko) - PT Tower Bersama Infrastructure (TBIG) announced that it has priced its debut Continuous Rupiah Bond I Phase I (“TBIG Bond I Phase I”).

The TBIG Bond I Phase I has a total issuance size of Rp740 billion split into two series - Series A and Series B. Series A is a Rp 550 billion offering at a fixed interest rate of 9% for a tenor of 370 calendar days.  

Series B is a Rp190 billion offering at a fixed interest rate of 10% for a tenor of 3 years.  Both Series A and Series B will have quarterly coupon payments. The TBIG Bond I Phase I will constitute senior unsecured obligations of TBIG.

Use of proceeds from this offering, after deducting the costs of issuance, will be used as follows: around 50% for the partial repayment of existing financial liabilities of the Company’s subsidiaries and the remaining for capital expenditure.

TBIG Bond I Phase I has obtained a local AA- rating from Fitch Indonesia. The Company has received effective statement from OJK for TBIG Bond I Phase I and this offering will be listed on the Indonesian Stock Exchange.

“This debut Rupiah bond offering diversifies our funding sources further. Our initial target issuance size was Rp500 billion, but strong demand has enabled us to upsize the issuance to Rp740 billion.  We hope to continue to tap the Rupiah bond market for our future funding requirements.”, said Hardi Wijaya Liong, CEO of TBIG.(es)