PT Tower Bersama Infrastructure Tbk (TBIG) Announces Rupiah Bond Issuance
JAKARTA, 11 July 2023 – PT Tower Bersama Infrastructure Tbk ("TBIG") announces that it has closed its Continuous Rupiah Bond VI Phase I Year 2023 (“TBIG Bond VI Phase I”) under its new IDR20 trillion Bond VI Program.
The TBIG Bond VI Phase I has a total issuance size of IDR1.5 trillion consisted of IDR1 trillion at a fixed interest rate of 5.90% for a tenor of 370 days and IDR0.5 trillion at a fixed rate of 6.25% for a tenor of 3 years. The TBIG Bond VI 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 USD325 million Revolving Credit Facility.
The TBIG Bond VI Phase I will be listed on the Indonesian Stock Exchange on 12 July 2023.
Total gross debt as of 31 March 2023, valuing USD loans at their hedged exchange rate, was IDR26,511 billion and gross senior debt was IDR3,330 billion. Cash balances as of 31 March 2023 were IDR586 billion, resulting in net debt of IDR25,925 billion and net senior debt of IDR2,744 billion. Using the first quarter 2023 annualized EBITDA, the net debt to EBITDA ratio is 4.6x.
“We expect to continue to access the Rupiah bond market under our new IDR 20 trillion program which is valid until July 2025. We are pleased with the competitive pricing for the Phase I issuances, which reflects the low credit risk in our business,” 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 Bersama Digital Infrastructure Asia.
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
