PT Tower Bersama Infrastructure Tbk (TBIG) has determined that the interest coupon for Phase III bonds in 2021 is valued at Rp. 2.915 trillion, ranging from 5.50% to 6.75%.

Based on a brief prospectus published on Friday (29/1), the IV phase III sustainable bonds in 2021 are part of the total funds that will be raised to IDR 7 trillion.

The bonds for phase III consist of two series; A series, a tenor of 370 days of a principal amount of Rp1,898 trillion bonds carrying a coupon of 5.50%, and B series,  a 3 years tenor of Rp1,017 trillion bonds with a coupon of 6.75%.

The company has obtained a rating from Pefindo 'AA +,' on the bonds issue plan.

CIMB Sekuritas Indonesia, DBS Vickers Sekuritas Indonesia, Indo Premier Sekuritas, and OCBC Sekuritas Indonesia are entrusted to act as the underwriters, with BRI (Persero) Tbk as the trustee.

Meanwhile, the company obtained the effective date for the bond sale plan on August 31, 2020. The public offering period is scheduled on February 10 and 11, 2021, and listing on IDX on February 18, 2021.

According to the plan, all of the proceeds will be used to pay part of the debt repayment of PT Solu Sindo Kreasi Pratama (SKP) and PT Tower Bersama (TB), the company's business entity, which is related to the revolving loan facility in the US$ 275,000,000 Facility Agreement to be paid to creditors through United Overseas Bank Ltd. as an agent.