PT Tower Bersama Infrastructure Tbk (TBIG) Announces Rupiah Bond Issuance

Posted on 19th August 2021

JAKARTA, 19 August 2021 – PT Tower Bersama Infrastructure Tbk ("TBIG") announces that it has closed its Continuous Rupiah Bond V Phase I Year 2021 (“TBIG Bond V Phase I”) under its new IDR15 trillion Bond Program.

The TBIG Bond V Phase I have a total issuance size of IDR 1.2 trillion at a fixed interest rate of 4.25% for a tenor of 370 days. The TBIG Bond V Phase I will constitute senior unsecured obligations of TBIG and have quarterly coupon payments.  The use of net proceeds will be to partially repay the Company’s existing financial liabilities, in particular, the USD375 million Revolving Credit Facility of our Credit Facilities.

The TBIG Bond V Phase I will be listed on the Indonesian Stock Exchange on 20 August 2021.

Total gross debt as of 31 March 2021, valuing USD loans at their hedged exchange rate, was IDR 26,834 billion and gross senior debt was IDR 11,577 billion. The gross debt and gross senior debt increased in the 1st quarter of 2021 due to draw down of bank loan to fund the 3,000 tower asset purchase from PT Inti Bangun Sejahtera Tbk (“IBST”) which were held as cash balance pending completion of the asset purchase transaction at the beginning of April 2021.  Cash balances as of 31 March 2021 were IDR 5,110 billion, resulting in net debt of IDR 21,724 billion and net senior debt of IDR 6,468 billion. Using the first quarter 2021 annualized EBITDA, the net senior debt to EBITDA ratio is 1.3x, and net debt to EBITDA ratio is 4.4x

“We are pleased to announce Phase I under our new IDR 15 trillion Continuous Rupiah Bond Program which is valid for two years. Our business has strong cash flow visibility and robust growth and we will look to regularly access the Rupiah bonds markets as our business continues to grow,” commented Helmy Yusman Santoso, CFO of TBIG.

 

About PT Tower Bersama Infrastructure Tbk:

PT Tower Bersama Infrastructure Tbk (“TBIG”), is a provider of telecommunications infrastructure for the placement of BTS by telecommunications operators in Indonesia.

TBIG is publicly listed on the Indonesian Stock Exchange and is majority owned by Saratoga Group and Provident Capital.

For more information contact:

Corporate Secretary:

Helmy Yusman Santoso – Tower Bersama Group

Telp. (62-21) 2924 8900

Email: corporate.secretary@tower-bersama.com

Investor Relations:

Veronica Jordan

Telp. (62-21) 2924 8900

Email: veronica.jordan@tower-bersama.com

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