JAKARTA (Yosefardi) – PT Visi Media Asia Tbk (VIVA) mulls to issue bonds worth US$105 million, equivalent Rp1.2 trillion, used to accelerate debt payment.
The company has debt of US$220 million, equivalent Rp2.6 trillion, to Credit Suisse.
The debt carries annual interest of 7.75%. For repaying debt, VIVA also plans to divest 10% shares of PT Intermedia Capital Tbk (MDIA), its subsidiary, at expected value of US$105 million.
VIVA booked net profit of Rp84 billion in first half of 2014, jumped 202% from Rp28 billion in the same period of last year. Revenues grew by 46.7% to Rp1.06 trillion from previous Rp722 billion.
Its assets totaled Rp5.83 trillion while liability amounted Rp3.25 trillion.