The Hartono Brothers Conglomerate Djarum Group Tower Company Completes IDR 1 Trillion Bond Offering, Funds For Paying Debts To BCA

Illustration. (Photo: Pixabay)

JAKARTA - The tower company owned by the Hartono Brothers conglomerate, PT Sarana Menara Nusantara Tbk (TOWR) through its subsidiary, PT Professional Telekomunikasi Indonesia (Protelindo), has completed Phase I of the Continuous Public Offering (PUB) III with a principal amount of IDR 1 trillion, on Tuesday, August 9.

The bond issuance is part of Protelindo's PUB III with a total targeted fund of IDR 5 trillion.

"The Protelindo bond issuance with a distribution date of August 9, 2022 is issued with a tenor of 370 calendar days and three years with a fixed interest coupon of 4.5% and 6% per year, respectively," explained the Corporate Secretary of Sarana Menara Nusantara, Monalisa Irawan, in an official statement, quoted Wednesday, August 10.

Monalisa explained that all the proceeds from this offer after deducting issuance costs would be used to pay off Protelindo's debt to PT Bank Central Asia Tbk (BBCA).

In the previous announcement, the company explained that the bonds offered had a value of 100 percent of the principal amount of the bonds, which consisted of three series, namely, series A, B, and C, all of which received full commitment.

For series A, Protelindo offers a number of bonds with a tenor of 370 calendar days from the issuance date. Then series B with a tenor of 3 years, and series C with a tenor of five years.

Meanwhile, the first interest will be paid on November 9, 2022. While the last interest and maturity for series A bonds will be paid on August 19, 2023, series B bonds will be paid on August 9, 2025, and series C bonds will be paid on August 9, 2027.

In this corporate action, the company has also obtained a bond rating result from PT Fitch Ratings Indonesia (FITCH) AAA. Acting as guarantor for implementing securities are PT BCA Sekuritas, PT BNI Sekuritas, and PT Mandiri Sekuritas. While PT Bank Pertama Tbk as the trustee.