PT Tower Bersama InfrastructureTbk (TBIG) Announces Rupiah Bond Issuance

Posted on 17th February 2021

JAKARTA, 17 February 2021 – PT Tower Bersama Infrastructure Tbk ("TBIG") announces that it has closed its Continuous Rupiah Bond IV Phase III Year 2021 (“TBIG Bond IV Phase III”).

The TBIG Bond IV Phase III have a total issuance size of Rp2,915 billion, consisting of Rp1,898 billion at a fixed interest rate of 5.50% for a tenor of 370 days and Rp1,017 billion at a fixed interest rate of 6.75% for a tenor of 3 years. These bonds will have quarterly coupon payments. The TBIG Bond IV Phase III 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, the USD275 million Revolving Credit Facility of our Credit Facilities.

The TBIG Bond IV Phase III will be listed on the Indonesian Stock Exchange on 18 February 2021.

Total debt as of 30 September 2020, valuing USD loans at their hedged exchange rate, was Rp22,407 billion and gross senior debt was Rp10,200 billion while cash balances were Rp574 billion, resulting in net debt of Rp21,833 billion and net senior debt of Rp9,625 billion. Using the third quarter 2020 annualized EBITDA, the net senior debt (hedged rate) to EBITDA ratio is 2.04x, and net debt (hedged rate) to EBITDA ratio is 4.63x, well within our bond covenants of not more than 6.25x for gross debt (hedged rate) over last quarter annualised EBITDA.

“We continue to have strong cash flow visibility and robust growth. TBIG Bond IV Phase III is our largest issuance in the Rupiah bond, and with the lowest pricing.  We expect to continue to 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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