JAKARTA (Yosefardi) – PT Solusi Tunas Pratama Tbk (SUPR) plans to refinance debt of US$240 million to DBS Bank and Standard Chartered by end of this year.
It had bagged loan of US$790 million from syndication of international banks.
The company also targets to raise Rp2.4 trillion from issuing 381.2 million new shares, representing 32.4% of its enlarged capital, priced at Rp7,000 per share. PT Kharisma Putra Prima will act as standby buyer.
The proceeds of rights issue (80%) will be used to pay part of banks’ loan. The payment will be made before this year end.
The banks’ loan was used to fund the acquisition of 3,500 units of tower from PT XL Axiata Tbk.