PT Tower Bersama Tbk (TBIG) has acquired approval for its planned $500m bond in a shareholder meeting in Jakarta. At the same time, state-owned port builder and operator PT Pelindo IV is mulling over plans to raise Rp3 trillion ($226 million) through a bond issue. Tower Bersama bond PT Tower Bersama Tbk (TBIG)‘s shareholders have approved its planned $500 million bond. Director and chief financial officer (CFO) of Tower Bersama, Helmy Yusan Santoso, said the approval will have a validity up to 12 months. Within that period, the company will issue the bond depending on market conditions. “We continue to monitor the market and wait for the best situation before executing the bond sale,” he said. The bond will mature in 2021, with the coupon set at around 8 per cent minimum. Proceeds from the bond will be used to repay debts and expansion. The notes will be issued to limited investors, registered in the Singapore Stock Exchange. Last year, the tower operator posted 3 per cent increase in revenue to Rp3.4 trillion from Rp3.3 trillion year on year (yoy). Net profit increased to Rp747.3 billion from Rp685.2 billion in 2014. Pelindo plans $226 bond issue State-owned firm Pelindo IV [...]
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