Jakarta - The entity PT Dian Swastatika Sentosa Tbk (DSSA), Golden Energy and Resources Limited (GEAR), issued a senior secured note worth US$90 million.

"This senior bond has an 8.5% coupon per year and matures in May 2026," said DSSA Corporate Secretary Susan Chandra in information disclosure on Thursday (10/3).

These notes are secured by part of the assets of the GEAR group.

GEAR through Golden Investments (Australia) Pte Ltd will use the proceeds from the bond issuance to participate in the offering of pro-rata share rights of Standmore Resources Limited, which will be used as a source of funding for the proposed transaction to acquire 100% of the shares of Dampier Coal (Queensland) Pty Ltd.

Shareholders approved the plan to acquire Dampier Coal's shares at the EGMS on February 23, 2022.

The issuance of these bonds caused the company's debt-to-equity ratio to increase by around 4.8 percent.