Tower Bersama, The Tower Company Of The Saratoga Group Owned By Conglomerates Edwin Soeryadjaya And Sandiaga Uno Releases IDR 2.2 Trillion Bonds

Illustration. (Photo: Pixabay)

JAKARTA - The tower company of the Saratoga group belonging to conglomerates Edwin Soeryadjaya and Sandiaga Uno, PT Tower Bersama Infrastructure Tbk (TBIG) released bonds worth IDR 2.2 trillion through a sustainable public offering (PUB) V phase IV in 2022. These debt securities are part of the PUB V worth a total of IDR 15 trillion.

Tower Bersama offers bonds in two series. For series A bonds, the company offers IDR 1.4 trillion with an interest rate of 4.1 percent per year and a period of 370 calendar days from the date of issuance.

Furthermore, for series B bonds, Tower Bersama offered IDR 721 billion with an interest rate of 6.35 percent per year and a period of three years from the issuance date.

According to the plan, the issuer coded TBIG will pay bond interest every three months and the first bond interest will be paid on November 11, 2022.

On the other hand, the last bond interest as well as repayment for the series A bonds will be paid on August 21, 2023 and the series B bonds will be paid on August 11, 2025. Each series of bonds will be paid in full at maturity.

TBIG management explained that the funds obtained by the company from the proceeds of this bond offering amounting to 57.5 million US dollars will be loaned to its subsidiary, PT Solusindo Kreasi Pratama (SKP) to pay all SKP's financial obligations. The remaining 89.6 million US dollars will be loaned to its subsidiary, PT Tower Bersama (TB), to pay part of its financial obligations.

"Both are related to the revolving loan facility in the USD 275 million Facility Agreement dated January 20, 2021 which will be paid to creditors through United Overseas Bank Ltd as an agent," TBIG management said in a written statement, quoted on Tuesday, July 26.

The public offering period will take place from August 5 to 8, 2022. Allotment on August 9, 2022, refund of electronic bond orders and distribution on August 11, 2022, and listing of bonds on the IDX is scheduled for 12 August 2022.

Acting as underwriters for the issuance of bonds in this PUB are PT Indo Premier Sekuritas, PT CIMB Niaga Sekuritas, PT DBS Vickers Sekuritas Indonesia, PT UOB Kau Hian Sekuritas, PT OCBC Sekuritas Indonesia, and PT Trimegah Sekuritas Indonesia Tbk. Meanwhile, PT Aldiracita Sekuritas Indonesia was appointed as the underwriter of the bonds issuance and PT Bank Tabungan Negara Tbk acted as the trustee.