Express Transindo Utama (TAXI), operator of conventional taxi, has recently informed that it had failed to pay bond coupon due on June 24, 2018 and on September 24, 2018. It has also expressed its inability to add collateral or guarantee to comply with the minimum 110% guarantee from principal bond value. Per August 2018, TAXI’s guarantee value for bonds reached Rp625.35 billion or 62.53% of bond value. Said bond was issued in 2014.
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