Mining firm Toba Bara Sejahtra (TOBA) has gained approval from shareholders for issuing global bonds worth US$250 million, equivalent Rp2.28 trillion. TOBA’s equity reached Rp2.38 trillion. The global bonds will be listed on Singapore Exchange Securities Trading Limited (SGX-ST). This bond will have tenor of five years, carrying annual coupon rate of 10%. TOBA will pay US$50 million debt to Bank Mandiri.
