Gajah Tunggal Sest the Interest of Global Bond 8.375% per Year

By : Abraham Sihombing And Aldo Bella Putra | Tuesday, August 15 2017 - 17:10 IWST

5166 - Jakarta - The management of PT Gajah Tunggal Tbk (GJTL), one of the motor vehicle tire producers in Indonesia, set an interest rate of 8.375% per annum for global bond issuance worth US $ 250 million.

According to GJTL prospectus published on Tuesday (15/08/2017), the five-year global bond will be listed on the Singapore Stock Exchange. Therefore, these global bonds will mature in 2022 and interest payments on the bonds will be made once every six months.

The prospectus will inform that the company will use the proceeds of the bond issuance to refinance the 2013 securities notes (senior secured note 2013) worth US $ 500 million.

In addition to the issuance of bonds, GJTL also obtained a loan facility to repay debts that will mature in 2018. The new loan consists of two parts, namely US dollar loan worth US $ 210 million and Rp534.2 billion in rupiah loans. This loan facility agreement has been signed on July 28, 2017.

The loan bears interest according to the currency denomination type. For US dollar loans from domestic creditors, the interest rate is 5.3% per annum plus LIBOR.

Meanwhile, the US dollar-denominated loan facility from foreign creditors fixes interest of 4.95% per annum plus LIBOR. Then, the loan facility in the rupiah rate fixes the interest rate of 4.1% plus JIBOR. (Abraham Sihombing)

News Comment

Today's Industry

NORD-DuoDrive.jpg: The innovative and patented DuoDrive geared motor reaches outstanding system efficiency Image: NORD DRIVESYSTEMS

Selasa, 17 Mei 2022 - 14:00 WIB

NORD DRIVESYSTEMS at LogiMAT in Stuttgart From 31st May to 2nd June 2022 NORD will present innovative drive solutions for intralogistics

The specialist LogiMAT exhibition in Stuttgart offers as comprehensive overview of the intralogistics and process management market. As one of the market leaders for drive technology, NORD presents…

President Jokowi attends the meeting between ASEAN leaders and American entrepreneurs at Intercontinental the Willard Hotel, Washington DC, Thursday (05/12). Photo by: Laily Rachev

Selasa, 17 Mei 2022 - 13:00 WIB

President Jokowi Invites US CEOs to Boost Cooperation with Indonesia

President Joko “Jokowi” Widodo has invited company CEOs in the United States to boost cooperation with ASEAN countries, particularly Indonesia.

President Jokowi, President Biden, and ASEAN Leaders on a group photo prior to the dinner, at the White House, Washington D.C., Thursday (05/12)

Selasa, 17 Mei 2022 - 12:28 WIB

President Jokowi, ASEAN Leaders Attend Dinner Hosted by US President

President Joko “Jokowi” Widodo Thursday (05/12) attended a dinner with the leaders of ASEAN countries hosted by President of the United States Joe Biden at the White House, Washington D.C.

(Photo: © 2022 KRAIBURG TPE)

Selasa, 17 Mei 2022 - 11:23 WIB

TPE unleashes benefits for pet accessories

The pet care market is rapidly expanding as pet ownership increases, as does spending on pet food, grooming tools, and accessories. Pet owners are significantly concerned about the prevalence…

Sergey Sedov, Founder and CEO of Robocash Group

Jumat, 13 Mei 2022 - 16:15 WIB

Robocash Group reached 2 BN USD of disbursement and issued audited financial report of 2021

Robocash Group publishes the audited combined financial statements for the year ended 31 December 2021. The Group reached an all-time high 2 BN USD of issued financing and is expected to increase…