JAKARTA (Yosefardi) – Telecommunication tower provider PT Tower Bersama Infrastructure Tbk (TBIG) has provided loan of Rp345 billion to its unit PT Tower Bersama, used to repay part of its debt.
TBIG had raised Rp740 billion from issuing bond this year. It has cancelled to issue bonds of series C as investors demand high coupon.
TBIG failed to attract foreign investors on its bonds offering due to current high rupiah bond market fluctuation as well as the rupiah’s weakening against the US Dollar which have reached Rp12,000 level.
The current shareholders of TBIG are PT Provident Capital Indonesia (24.58%), PT Wahana Anugerah Sejahtera (30.25%), PT Indosat (5%), JPMCC-SPO Partners II, LP (5%), and public investors (35%).