PT Tower Bersama Infrastructure Tbk ("TBIG") Announces Rupiah Bond Offering

Posted on 24th May 2019

JAKARTA, 24 May 2019 – PT Tower Bersama Infrastructure Tbk ("TBIG") announces that it has closed its Continuous Rupiah Bond III Phase III Year 2019 (“TBIG Bond III Phase III” or “June 2020 IDR Notes”).

The June 2020 IDR Notes have a total issuance size of Rp750 billion at a fixed interest rate of 8.0% for a tenor of 370 days and will have quarterly coupon payments. The June 2020 IDR Notes will constitute senior unsecured obligations of TBIG.  The use of net proceeds will be to partially repay the Company’s existing financial liabilities, in particular, Facility B of our Credit Facilities.

The June 2020 IDR Notes obtained a local A+ rating from Fitch Indonesia and will be listed on the Indonesian Stock Exchange on 27 May 2019.

Total gross debt as of 31 March 2019, valuing USD loans at their hedged exchange rate, was Rp19,887 billion and gross senior debt was Rp12,700 billion while cash balances were Rp235 billion, resulting in net debt of Rp19,652 billion and net senior debt of Rp12,465 billion. Using the first quarter 2019 annualized EBITDA, the net senior debt to EBITDA ratio is 3.2x, and net debt to EBITDA ratio is 5.1x.

“We are pleased to access the Rupiah bond market with competitive pricing.  Our current leverage is well within our bond covenants of not more than 6.25x for gross debt (at the hedged rate of debt) over last quarter annualized EBITDA,” commented Helmy Yusman Santoso, CFO of TBIG.

“We have an extremely strong debt structure – fully hedged, long term debt and ample committed undrawn availability.  The June 2020 IDR Notes diversifies and strengthens our capital structure,” added Hardi Wijaya Liong, CEO 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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