Trikomsel bondholders to get shares in exchange for defaulted notes

Singapore

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