SINGAPORE (Yosefardi) – Trikomsel Pte Ltd is now proceeding the suspension of payments (PKPU) for its SG$100 million senior fixed rate notes due this year, proposed to its noteholders in Indonesia. The notes carries annual coupon of 5.25%.
Trikomsel is also proceeding PKPU for SG$100 million senior fixed rate notes due in 2017 carrying annual coupon rate of 7.875%.
Trikomsel intends to continue to work with the steering committee to ensure that any restructuring plan agreed with creditors makes appropriate accommodation for the interests of Noteholders.
A restructuring plan agreed by the requisite majority of creditors will be binding on all Noteholders as against the Company under Indonesian law. This does not require further approval from Noteholders, however, Noteholders may need to take further practical steps to participate in an agreed restructuring plan.