Telco tower operator Tower Bersama Infrastructure (TBIG) has set coupon rates at 8.25% to 9.25% for its bonds worth Rp700 billion, part of its Rp7 trillion bond issue program, set to issue next month. The bonds will be issue in 2 series with tenor of 3 years (offering annual coupon rates at 8.25-8.75%) and 5 years (8.5-9.25%). The offering is set for June 29 and July 2.
The bond proceeds will be used to pay debt of subsidiaries; PT Solusi Menara Indonesia (SMI) and PT Solu Sindo Kreasi Pratama (SKP). Both subsidiaries have revolving loan worth US$1 billion to creditors, to pay through United Overseas Bank Ltd.