PT Tower Bersama Infrastructure Tbk (TBIG) is ready to offer debt securities through Phase III Sustainable Bonds worth Rp2.91 trillion.

The company intends to use the proceeds from the bonds' issuance to refinance Tower Bersama's IV Sustainable Bonds' debt with a ceiling of up to Rp7 trillion.

Last year, the company issued two stages, each worth Rp700 billion and Rp750 billion. The company will announce the details later. An international institution, Fitch Ratings, has assigned an AA + rating for this phase III bond.

The rating is the same as Tower Bersama's long-term national rating as they both are senior unsecured bonds.

"The AA's national rating reflects expectations of a relatively very low default risk level," Fitch said in an official statement, Thursday (28/1).

The bond issuance will add to the fundraising list aiming at the company's debt refinancing.

Currently, the company, through TBG Global Pte Ltd, intends to accelerate the payment of global bonds worth US$ 350 million with a 5.25 percent coupon due in 2022. Sources of funds for repayment come from new international bonds and internal cash.