Tower Company Owned By The Conglomerate Edwin Soeryadjaya And Sandiaga Uno Stops The Bonds, Why?

Illustration. (Photo: Doc. Tower Bersama Group)

JAKARTA - The telecommunication tower company of Saratoga Group, PT Tower Bersama Infrastructure Tbk (TBIG) announced the termination of the remaining Sustainable Public Offering IV (PUB IV Obligasi) Tower Bersama Infrastructure.

Quoted from a letter published by TBIG on the Information Disclosure Page of the Indonesia Stock Exchange (IDX), Tuesday, May 11, the company's management said the Sustainable Bond IV is a bond that has been effective since August 31, 2020. The total target of the bond fund reached IDR 7 trillion and the rest of its issuance was stopped.

TBIG management also conveyed the dismissal of the remaining Sustainable Bonds because the company plans to open a new program that will open the opportunity to obtain a larger amount of funds for the company.

Since its issuance at the end of August, the company has offered and issued bonds under the PUB IV program amounting to IDR 5.33 trillion in four phases.

Thus, with the pub target of IDR 7 trillion, the remaining target funds that have not been collected for PUB IV are worth IDR 1.67 trillion which is finally canceled.

In the statement signed by TBIG Director Helmy Yusman Santoso, it is not explained the new type of program that will be implemented to raise more funds.

TBIG has previously offered Sustainable Bonds IV Phase III year 2021 with a principal value of IDR 2.92 trillion. The bonds are issued without bond, offered at 100 percent value in two series.

Series A, the principal amount of bonds amounted to IDR 1,898,000,000,000 with a fixed interest rate of 5.50 percent, which is 370 calendar days from the Date of Emission.

Series B, the principal amount of bonds amounted to IDR 1,017,000,000,000 (IDR 1.02 trillion) with a fixed interest rate of 6.75 percent within 3 years from the Issuance Date.

In PUB IV Phase II the Company has also issued IDR 1.45 trillion.