JAKARTA (Yosefardi) – Property developer PT Pakuwon Jati Tbk (PWON) provides corporate guarantee to Bank Central Asia (BCA) for Rp200 billion loan the bank provided to PWON’s affiliated companies, PT Graha Mitra Insani (GMI) and PT Surya Mitra Insani (AMI).
GMI and SMI have acquired Usada Insani hospital located in Cipondoh, Tangerang, funded by loan from BCA.
PWON opts to boost its financial performance and support a stable business growth in the future through business diversification including to expand into health industry and hospitals.
PWON, through its subsidiary PT Pakuwon Sentra Wisata, partnered with PT Elang Mahkota Corpora, subsidiary of PT Elang Mahkota Teknologi Tbk (EMTK) and PT Menjangan Sakti (Mensa), invests in health industry and hospital.
PWON, controlled by Tedja family, plans to issue global bonds worth US$175 million, equivalent Rp2.1 trillion, for the repayment of outstanding loan amounts, acquisition
transactions and working capital purposes.
It also plans to launch private placement of shares, targets to raise proceeds of Rp1.7 trillion.
The bonds proceeds will be used to refinancing the existing debt while proceeds of private placement will be used to fund the business expansion.