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Trikomsel bondholders to get shares in exchange for defaulted notes

Wednesday, October 5, 2016 - 20:29

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INDONESIA'S mobile phone operator Trikomsel on Wednesday said bondholders owning a total of S$215 million worth of defaulted bonds due 2016 and 2017 will have their notes exchanged for shares in the company.

INDONESIA'S mobile phone operator Trikomsel on Wednesday said bondholders owning a total of S$215 million worth of defaulted bonds due 2016 and 2017 will have their notes exchanged for shares in the company.

Each share is worth 327.4 rupiah. The shares will represent 25.5 per cent of the total shareholding base. This base takes into account a capital injection of US$10.5 million to be offered by March 31, 2017.

The two tranches of bonds refer to S$115 million of notes due 2016 that were meant to pay a coupon rate of 5.25 per cent, and S$100 million of notes due 2017 that were meant to pay 7.875 per cent in fixed interest.

sentifi.com

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