PT Tower Bersama Infrastructure Tbk (TBIG) has set the coupon for its 2021 phase I V sustainable bond at 4.25% and a tenor of 370 days.

Based on a brief prospectus published Thursday (12/8), the number of bonds for Phase I 2021 offered is a maximum of  Rp1.2 trillion, part of the targeted fundraised of Rp15 trillion.

TBIG plans to use the proceeds from this bond issuance to be loaned to PT Solu Sindo Kreasi Pratama (SKP) to pay part of its financial obligations related to the revolving loan facility in a US$375 million facility agreement paid to creditors through United Overseas Bank Ltd as an agent.

This revolving loan facility has an interest margin of 1.85% per annum and will mature in January 2025.

To issue sustainable bonds V, TBIG obtained a rating from Fitch Ratings Indonesia 'AA+'.

The Company appointed PT CIMB Sekuritas Indonesia, PT DBS Vickers Indonesia, PT Indo Premier Sekuritas, and PT UOB Kay Hian Sekuritas