PT Tower Bersama InfrastructureTbk (TBIG) Announces Rupiah Bond Offering

Posted on 9th September 2020

JAKARTA, 9 September 2020 – PT Tower Bersama Infrastructure Tbk ("TBIG") announces that it has closed its Continuous Rupiah Bond IV Phase I Year 2020 (“TBIG Bond IV Phase I”).

The TBIG Bond IV Phase I have a total issuance size of Rp700 billion, consisting of Rp231 billion at a fixed interest rate of 6.3% for a tenor of 370 days and Rp469 billion at a fixed interest rate of 8.0% for a tenor of 3 years. These bonds will have quarterly coupon payments. The TBIG Bond IV Phase I will constitute senior unsecured obligations of TBIG.  The use of net proceeds will be to partially repay the Company’s existing Continuous Rupiah Bond II Phase III Year 2017 with fixed interest rate of 8.4% that is due on 19 September 2020.

The TBIG Bond IV Phase I obtained a local AA- rating from Fitch Indonesia and is listed on the Indonesian Stock Exchange on 9 September 2020.

Total debt as of 30 June 2020, valuing USD loans at their hedged exchange rate, was Rp22,562 billion and gross senior debt was Rp10,353 billion while cash balance was Rp762 billion, resulting in a net debt of Rp21,800 billion and a net senior debt of Rp9.591 billion. Using the second quarter 2020 annualized EBITDA, the net senior debt to EBITDA ratio is 2.1x, and net debt to EBITDA ratio is 4.8x.

“We are pleased to have again successfully accessed the Rupiah bond market at competitive pricing. This new Continuous Rupiah Bond program has a total size of up to Rp7 trillion and valid for two years,” 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 TBIG Bond IV Phase I 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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